YogaWorks, operator of 50 yoga studios across the U.S., announced terms for its IPO on Monday. If approved, the company would be the first yoga studio chain to go public.

According to NASDAQ, YogaWorks’ share price will be set at a range of $12 to $14 a share. They plan to offer 5 million shares to raise up to approximately $70 million.

“If the underwriters exercise their option to purchase additional shares in full, we estimate that the net proceeds to be received by us will be approximately $67.5 million, after deducting underwriting discounts, commissions and estimated offering expenses payable by us,” YogaWorks filed under their Use of Proceeds to Nasdaq.

According to YogaWorks, the purpose of the company going public acts as a safety net for their future endeavors. They intend to fund their expansions of more yoga studios, with plans to add more than 35 new studios in the next 18 months.

“We intend to use the net proceeds to us from this offering to repay the 2017 GHP Convertible Notes, to repay the outstanding indebtedness under our Loan Agreement of approximately $7.0 million (including prepayment premiums), fund future acquisitions of individual yoga studios or businesses with multiple studios (although we have no binding obligations to enter into any such acquisitions), investments or capital expenditures and for working capital and other general corporate purposes,” YogaWorks stated in their file.

YogaWorks was bought by private equity firm Great Hill Partners in 2014.

The company has applied to list on the NASDAQ Global Market under the symbol “YOGA.”

UPDATE: YogaWorks has since postponed their IPO due to market conditions.