Stibbe advises Basic-Fit
Stibbe assisted Basic-Fit, Europe’s largest and fastest growing fitness chain, in its placement of 5,333,333 new ordinary shares through an accelerated bookbuild offering.
The placement raised gross proceeds of approximately EUR 133.3 million. The shares have been placed at a price of EUR 25.00 per new ordinary share, which represents a discount of 1.4% to the closing price of EUR 25.35 of Basic-Fit’s shares listed on Euronext Amsterdam on 8 June 2020.
Basic-Fit intends to use the net proceeds from the accelerated bookbuild offering to strengthen the balance sheet providing Basic-Fit with the financial flexibility to recommence its growth strategy which includes the opening of new clubs and acquisitions.