IPOF - Luxury gym Equinox is said to get new funding ahead of potential SPAC deal

November, 10 2021 02:29 PM Social Capital Hedosophia Holdings Corp. VI Class A

Luxury gym chain Equinox is said to have obtained $225M in new financing commitments from some of its lenders and owners to try to help with its liquidity. Equinox was extending financing by BofA, Citi, and Goldman, according to a WSJ report. In addition, executives at Related Cos., which owns a stake in the gym chain, provided funding. Equinox, which is also known for owning SoulCyle (SOULC), is trying to use the funding as a "bridge" as it considers a potential SPAC deal. Bloomberg reported last month that Equinox was is in discussions to go public through a merger with SPAC Ares Acquisition Corp. (NYSE:AAC) after talks with one of Chamath Palihapitiya’s blank-check companies, Social Capital Hedosophia Holdings VI, (NYSE:IPOF) ended in the summer. In early May Bloomberg reported on the talks between the two parties and said that a transaction could value the combined company at more than $7.5B.

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Luxury gym Equinox is said to get new funding ahead of potential SPAC deal

Company Name:	Social Capital Hedosophia Holdings Corp. VI Class A
Stock Symbol:	IPOF
Market:	NYSE

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