08:10 AM EDT, 08/12/2024 (MT Newswires) -- Life Time Group Holdings ( LTH ) said Monday that the company and some of its existing stockholders plan to offer and sell 6 million shares each of the company's common stock in an underwritten public offering.

The underwriters will also have a 30-day option to buy up to an additional 1.8 million shares of common stock from the selling stockholders.

The company said it plans to use its portion of the net proceeds for general corporate purposes, which may include repayment of debt.

The company's shares dipped 4% in recent premarket activity on Monday.

Price: 23.00, Change: -0.99, Percent Change: -4.13