New Planet Fitness CEO Colleen Keating takes the helm June 10th amid a challenging time for the popular low-price gym giant.
A refinancing transaction would see Planet Fitness issue $600 million in new securitized debt which can potentially grow to $800 million.
Planet Fitness will increase its Classic Card membership cost to $15 per month, up from the gym brand's long-standing $10 price point.
Keating will look to grow the gym giant while wrestling with key decisions including potentially increasing the price of a Planet Fitness membership.
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