5/5, 4:42 PM (Source: TeleTrader)
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Equinox to go public via Palihapitiya's SPAC - report

The Equinox fitness group that also includes SoulCycle and Blink Fitness is looking to go public via a merger with a special purpose acquisition company (SPAC), CNBC confirmed on Wednesday citing sources familiar with the matter.

The SPAC in question is Social Capital VI, backed by a Canadian-American venture capitalist Chamath Palihapitiya, who is famously known for SPAC mergers, including with Richard Branson's Virgin Galactic Holdings.

Equinox is targeting a total evaluation of the business of $7 billion, which is 22 times the estimated EBIDTA of $320 million.

Breaking the News / LH