Australian fitness chain F45 Training is set to list on the US Nasdaq exchange after striking a deal to merge with Crescent Acquisition, a special purpose acquisition company backed by investment firm Crescent Capital. It is slated to value the combined companies at $US845m ($1.23b) including debt with a listing expected in the third quarter of the year.
In a conference call with investors on Thursday, Mr Gilchrist said F45 had only "scratched the surface" of its potential and was one of the fastest-growing fitness franchises in the world with plans for 25,000 studios globally. "As a public company, I am confident that we will be able to accelerate our mission while creating value for our shareholders," Mr Gilchrist said. "We've absolutely smashed it here in the US, and we have confidence in our ability to propel our business even further."