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Equinox’s Merger Talks With Palihapitiya-Backed SPAC Have Ended

An Equinox gym in New York.

An Equinox gym in New York.

Photographer: Stephanie Keith/Bloomberg
Updated on

Equinox Holdings, the luxury gym operator popular among celebrities and financiers, is no longer in talks to go public through a merger 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 indoor-cycling centers, fell apart due to a disagreement over the combined company’s valuation, one of the people said. Bloomberg News in May reported the two parties were in discussions regarding a transaction that may have valued the merged entity at more than $7.5 billion.