High-end indoor cycling chain SoulCycle files to go public

AP News
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Posted: Jul 30, 2015 3:52 PM

NEW YORK (AP) — SoulCycle, the high-end indoor cycling fitness chain, is heading to Wall Street.

The New York company filed for an initial public offering Thursday, hoping to raise as much as $100 million. SoulCycle didn't say how many shares it plans to offer, or at what price, so that number may change.

The company says it named chief operating officer Melanie Whelan as CEO last month, replacing co-founders Elizabeth Cutler and Julie Rice. SoulCylce says Cutler and Rice will remain involved with the company they started in 2006 with one studio in New York.

There are now 38 SoulCycle studios around the country and the company plans to open as many as 250.