Deals
Equinox Group Draws SPAC Interest After $350 Million 2020 Loss
- Company fielding SPAC interest at at least $7 billion value
- Earnings turned negative after gyms shut down during pandemic
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Equinox Group is fielding interest from blank-check firms that would take the company public after it lost around $350 million last year amid the pandemic, according to people with knowledge of the matter.
Despite the loss, the gym chain has started to solicit interest from suitors including special purpose acquisition companies that value Equinox, including its SoulCycle entity and other brands, at $7 billion or more, said the people, who asked not to be named discussing private results.