Shares of Xponential Fitness Inc. XPOF were falling nearly 10% in after-hours trading Tuesday after the company announced a secondary offering of 5 million shares by selling stockholders. The fitness company, whose brands include Club Pilates and CycleBar, said that the sellers would be certain existing stockholders, affiliates of Snapdragon Capital Partners, and Anthony Geisler. Geisler is the company’s founder and chief executive. Xponential Fitness noted in its release that the selling stockholders plan to give underwriters a 30-day option to buy up to 750,000 additional shares of Class A stock. The company won’t receive proceeds from the secondary offering.
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