0000000000-23-013880.txt : 20250127 0000000000-23-013880.hdr.sgml : 20250127 20231220093606 ACCESSION NUMBER: 0000000000-23-013880 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20231220 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: Xponential Fitness, Inc. CENTRAL INDEX KEY: 0001802156 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 844395129 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD SEC FILE NUMBER: 001-40638 BUSINESS ADDRESS: STREET 1: 17877 VON KARMAN AVE STREET 2: SUITE 100 CITY: IRVINE STATE: CA ZIP: 92614 BUSINESS PHONE: 6507522078 MAIL ADDRESS: STREET 1: 17877 VON KARMAN AVE STREET 2: SUITE 100 CITY: IRVINE STATE: CA ZIP: 92614 PUBLIC REFERENCE ACCESSION NUMBER: 0000950170-23-006082 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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Form 10-K for Fiscal Year Ended December 31, 2022 Form 10-Q for Fiscal Quarter Ended June 30, 2023 Dear John Meloun: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-Q for Fiscal Quarter Ended June 30, 2023 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Key Performance Indicators, page 32 1. You define a studio as "no longer operating" and exclude it from the total number of studios in operation if it has no sales for nine consecutive months or more. Please clarify for us when you consider a studio to be closed and how and when closed studios impact your KPI's. Clarify for us if you distinguish between studios no longer operating and closed. John Meloun FirstName XponentialLastNameJohn Fitness, Inc. Meloun Comapany20, December NameXponential 2023 Fitness, Inc. December Page 2 20, 2023 Page 2 FirstName LastName Item 6. Exhibits Exhibits 10.2 and 10.3, page 46 2. Please explain to us the purpose of the waivers in these exhibits. In particular, explain to us why the waiver of the defined "Specified Transactions" was made applicable to prior to the dates of the waivers and the significance of this. Clarify for us if the waivers essentially make Section 7.02(o)(iv) of the Financing Agreement null and void since the inception of the Financing Agreement. Form 10-K for the Fiscal Year Ended December 31, 2022 Exhibit 31.1 & 31.2, page 1 3. Please amend this filing, as well as your Form 10-Q for the period ended March 31, 2023, to file revised certificates that include internal control over financial reporting language in the introductory portion of paragraph 4 as well as paragraph 4(b). Refer to Question 246.13 of our Compliance and Discussion Interpretations on Regulation S-K for guidance on amending the filing for this purpose. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Aamira Chaudhry at 202-551-3389 or Doug Jones at 202-551-3309 with any questions. Sincerely, Division of Corporation Finance Office of Trade & Services