After a postponed IPO, YogaWorks finally reached public status August 10.
The company announced the pricing of its IPO of 7,300,000 shares of its common stock at a price to the public of $5.50 per share. The shares began trading on the NASDAQ Global Market on Aug. 11 under the symbol YOGA.
Rosanna McCollough, president of YogaWorks described their initial decision to go public as too quick and not organic enough.
“It is hard to measure the value of a company,” said McCollough. “We went in too aggressive and didn’t find the right investors until just recently. Going public is a great branding opportunity, it promotes finance growth and will allow us to go back to focusing on the consumer and customer experience.”
YogaWorks is the first yoga studio to go public on the market. With plans to purchase 35 studios in the near future, the company is using the opportunity as a way to stay true to their mission.
“We are 50 independent communities and process,” said McCollough. “For us, this whole process will be about sticking to our mission and making sure that yoga works for every body. We are unique and offer multidisciplines, which will allow us to acquire various studios in the future. As we go forward, we want to make sure we maintain that continuity with our teachers and keep the quality YogaWorks is known for.”