Equinox Discusses Going Public Via Social Capital SPAC
- Gym operator in talks with Palihapitiya blank-check company
- Transaction could value company above $7.5 billion with PIPE
Equinox Hudson Yards in New York.
Photographer: Matthew Peyton/Getty ImagesEquinox Holdings, the luxury gym operator popular among financiers and celebrities, has held talks to go public by merging with a blank-check company backed by investor Chamath Palihapitiya, according to people with knowledge of the matter.
Negotiations between Social Capital Hedosophia Holdings Corp. VI and Equinox, which also operates SoulCycle and Blink Fitness, aren’t finalized and it’s possible that discussions may not result in a deal, said one of the people, asking not to be identified because the information is private. A transaction could value the combined entity at more than $7.5 billion, one of the people said. That would include a meaningful injection from a so-called private investment in public equity, or PIPE, deal.