History And Timeline Of Yoga Works IPO 2023

Yoga Works Teachers taught more than 180,000 classes and the group has more than 225,000 students in 2016. In extension to its studio locations, Yoga works offer online instruction within its My Yoga Works Web Platform, which gives subscribers a highly curated catalog of over 1,000 yoga and meditation classes.

It is one of the biggest and fastest-growing providers of yoga instruction in the U.S which almost 3 million pupils visit in 2016. The company produces 66 company-owned studio as well as their internet-based digital media service, Mu YogaWork.com. They have extremely trained, passionate teachers who make yoga accessible to everyone and offer work that can be applied on and off the mat. Yoga works strive to make yoga available to everybody and offer a wide range of class styles for forms of all ages and talents.

Since 1990, YogaWorks has provided a teacher training program, which has above 11,000 graduates. They also primarily attempt yoga classes, workshops, teacher training programs, and yoga-related local merchandise across their studios, With world class yoga studios in Atlanta, Baltimore, Boston, Houston, Los Angeles, New York, Orange country, San Francisco Bay area, and also Washington D.C, they are preparing studio opening in other cities soon.

History Of Yoga Works

The journey of the yoga works began in 1987 when Maty Ezraty Chuck Miller and Alan Finger began their primary studio on Montana Avenue in Santa Monica, they assumed many styles of yoga below one roof, which attracted the best educators in Southern California. the founders were all serious and highly accomplished yoga practitioners who desired to share the gifts they learned from their wise teachers.

In 2007, Yoga Works had 14 places in the states of California and Newyork by 2008 the company has expanded to 21 yoga studios. In 2014, the company and its 29 yoga studios were used by Great Hill Partners for $45 million.

Rosanna McCollough enrolled YogaWorks in February 2015 as president and Chief Operating Officer, originally managing studio operations, marketing, teacher training, MyYoga Works.com, Human resources, and also IT, before being raised to the president and Chief Executive Officer in June 2016. As of 2017, the company had 66 yoga studios over the country.

The company was once known as YWX Holdings, Inc. and we shifted our name to YogaWorks, Inc. on April 10, 2017. They work supporting the brand names YogaWorks, Yoga Tree, and certain other limited marks for a while following the acquisition of studios.

Timeline of YogaWorks’ IPO

On August 11, 2017, YogaWorks, Inc. held its original public offering becoming the first yoga “Chain” to be publicly traded. The pricing of its original public offering of 7,300,000 shares of its current stock at a price to the public of $5.50 per share.

The shares started trading on the NASDAQ Global Market on August 11, 2017, below the symbol “YOGA”. The underwriters were admitted a 30-day option to purchase an additional 1,095,000 shares of stock from the company.

The closing of the offering happened on  16, 2017, subject to the settlement of customary closing conditions. They received returns from our IPO of $37.6 million after deducting underwriters’ discounts and commitments of 42.5 million, but before deducting submitting costs of $2.1 million.

Certain IPO-related costs on September 30, 2017, of $2.6 million were listed as a reduction to additional paid-in capital. The principal goals of this contribution were to increase their capitalization and financial compliance, create a free market for their common stock, and thereby allow access to the public equity markets for them and their stockholders.

Great Hill Equity Partners V, L, P. Great Hill Investors, LLC, and their related companies, which we commit to collectively as Great Hill Partners, or controlling stockholders, indicated an investment in purchasing up to $10.0 million in parts of our common stock in this offering, which is referred to as the “Great Hill Shares”, at the initial state offering price.

After the Great Hill’s stake was considering to be cut to 64% unless is purchased the $10 million worth of shares, at which point, it was to be increased to 70.3%. Great Hill took YogaWorks for $45.6 million in cash on July 18,,2104 according to the s-1 form. The terms of the deal were not shown at the time.

For the following quarter ending June 30, Yoga Works expected net earnings between $12.3 million and $12.6 million, a decline from the $13.3 million it generated in the year-ago period. The organization said it estimates second quarter visits of 700000 to 720000 compared to the 754, 567 visits it achieved in the same period a year ago.

For the three months ended March 31, YogaWorks related revenue of $13.9 million, lower than the $15,1 million it generated in the year-ago period. YogaWorks last posted its quarterly profits results on Thursday, November 14th, 2019. The company had revenue of 16.53 million during the quarter. YogaWorks had an adverse return on equity of 160.56% and a negative net edge of 38.23%.

Last Updated on July 28, 2023 by john liam