F45 Training Hldgs Inc Stock Price, News & Analysis

F45 Training Holdings Inc. (NYSE: FXLV) announced receiving a notice from the NYSE for not complying with Section 802.01E, due to the late filing of its 2022 Annual Report (Form 10-K). The NYSE has allowed a six-month period from March 31, 2023, for F45 to file the delayed report and regain compliance. The Company cited ongoing challenges in finalizing its financial statements, primarily involving the effectiveness of internal controls. While this notice does not immediately affect F45's stock listing, it may lead to delisting proceedings if compliance is not achieved within the set timeframe. F45 is committed to expediting the filing process. The Company assures stakeholders that it is working diligently to complete the necessary reviews.

F45 Training Holdings Inc. (NYSE: FXLV) announces Wahlberg Week, running from April 17-23, 2023, featuring a series of specially designed workouts by Mark Wahlberg and Gunnar Peterson. This week-long event will offer seven unique fitness classes, each targeting different muscle groups, available for free to new participants in participating studios worldwide.

Members can track their performance through the F45 Challenge app. Additionally, a collaboration with Wahlberg's clothing line, MUNICIPAL, will introduce a 10-piece athleisure collection, launching on April 17. The workouts and merchandise aim to enhance member engagement and showcase F45’s commitment to innovation in fitness.

F45 Training Holdings (NYSE: FXLV) has announced the appointment of Tom Dowd as the new CEO and Mark Wahlberg as Chief Brand Officer, enhancing its leadership team. Dowd, who previously held executive positions at GNC Holdings, aims to refine F45’s business strategy for sustainable growth. Wahlberg, a board member since March 2019, brings his brand-building expertise to elevate F45's brand presence. This leadership transition follows F45's announcement of securing $90 million in financing to improve its financial position and drive future growth.

F45 Training Holdings Inc. (NYSE: FXLV) announced a new $90 million subordinated debt facility facilitated by a consortium of investors led by Kennedy Lewis. This funding aims to bolster the company's liquidity and strengthen its balance sheet, as it implements cost reduction initiatives. Gene Davis has been appointed Chairman of the Board, joined by four new independent directors, while Bob Madore takes on the role of Interim CFO. The financing includes a five-and-a-half-year term, enabling F45 to pay down existing debt and fund corporate needs. A Special Committee's review of strategic alternatives is paused, focusing on enhancing shareholder value.