BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Money LP (“Pathlight”) declared it is serving as the Administrative Agent on the not long ago funded $355,000,000 Senior Secured Credit history Facility for iFIT Well being & Exercise Inc. (“iFIT” or the “Enterprise”), a global leader in linked health and interactive content material with its comprehensive portfolio of iFIT® and Sweat® streaming platforms, and its very innovative gear brands NordicTrack® and Proform®.
Proceeds from the facility will be utilised to make investments in centered growth initiatives, performance actions to improve successful advancement, as nicely as elevate the iFIT member working experience by continuing to innovate throughout interactive software program, content, and hardware.
“We are grateful to the crew at Pathlight for supporting us as we enter our up coming chapter of progress at iFIT. As exercise routines normalize coming out of the pandemic, we strive to provide the most outsized exercise working experience irrespective of the place our member needs to exercise. The guidance from Pathlight will allow for us to carry on our leadership situation in offering the most revolutionary hardware and immersive encounter,” said Steve Barr and Mark Watterson, iFIT co-Presidents.
Mark Twomey, Spouse of Pathlight Capital commented, “Pathlight was proud to companion with L Catterton and the management team in supplying liquidity to support the innovation iFIT provides to the overall health and health and fitness industry. The content material and interactive character of their numerous product or service offerings proceeds to revolutionize the in-household exercise routine practical experience. We are happy to be a part of this capital raise and seem forward to the continued growth of the business.”
About Pathlight Capital
Pathlight Cash is a personal credit expense supervisor dedicated to meeting the requires of firms that operate throughout a wide variety of industries by furnishing asset-based financial loans secured on a initially or next lien basis from tangible and intangible belongings. Pathlight aims to supply imaginative funding remedies to allow for management teams to accessibility incremental liquidity for the applications of funding operating cash, financial debt refinancings, advancement, acquisitions, dividends and turnaround procedures. For additional info, make sure you visit www.pathlightcapital.com.
About iFIT Wellbeing & Conditioning Inc.
iFIT® is a world-wide physical fitness and properly-currently being subscription technological innovation company that provides unmatched health encounters and alternatives to its growing neighborhood of over 7.3 million members in around 120 international locations. iFIT’s industry-leading brand names – NordicTrack®, ProForm®, Sweat®, Freemotion®, Weider® and 29029® – are driven by the iFIT integrated health and fitness and physical fitness platform, which seamlessly connects the firm’s proprietary software, experiential content and interactive hardware. Primarily based in Logan, Utah, with places of work in Paris, Shanghai, Sydney and Leeds, the firm gives immersive, adaptive, customized workout activities for every single health and fitness stage and desire. iFIT delivers these patented interactive ordeals via an in depth giving of live and on-demand content material throughout the industry’s broadest assortment of connected physical fitness modalities. iFIT is a pioneer and leader in the health and fitness and conditioning industry with much more than 400 issued and pending patents.
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