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3 Reasons to Be Pumped Up About the Upcoming Planet Fitness IPO


Updated on July 28 to include additional details about the IPO.

NEW YORK (TheStreet) -- Planet Fitness could be one pumped-up IPO.

On Monday, the discount discount gym known for its endless rows of no-frills cardio equipment, multiple tanning beds, and "judgment free" workout zones, released more details about its planned IPO. The company said it plans to raise about $216 million in its IPO, up from $100 million in June when it first registered its IPO. Planet Fitness will offer 13.5 million class A shares to be priced at $14-$16.

The increase in the expected amount Planet Fitness will raise suggests the gym chain's business prospects are being met with enthusiasm by investors, which could mean a hearty valuation on the first day of trading. No date for the initial public offering was set.

Planet Fitness, which is seeking to list on the New York Stock Exchange under the symbol PLNT, does have several red flags for investors to consider.

First, the company has...