Pathlight Capital Provides $355 Million Facility to iFIT Health & Fitness

BOSTON, April 14, 2022 /PRNewswire/ — Pathlight Funds LP (“Pathlight”) announced it is serving as the Administrative Agent on the just lately funded $355,000,000 Senior Secured Credit Facility for iFIT Wellness & Fitness Inc. (“iFIT” or the “Corporation”), a world-wide chief in related exercise and interactive content with its considerable portfolio of iFIT^® and Sweat^® streaming platforms, and its hugely impressive gear brands NordicTrack^® and Proform^®.

Proceeds from the facility will be utilized to devote in targeted advancement initiatives, efficiency measures to enhance successful development, as effectively as elevate the iFIT member practical experience by continuing to innovate throughout interactive computer software, articles, and hardware.

“We are grateful to the team at Pathlight for supporting us as we enter our next chapter of growth at iFIT. As health and fitness routines normalize coming out of the pandemic, we attempt to produce the most outsized physical fitness expertise regardless of in which our member wants to training. The support from Pathlight will make it possible for us to go on our management posture in delivering the most progressive hardware and immersive knowledge,” stated Steve Barr and Mark Watterson, iFIT co-Presidents.

Mark Twomey, Spouse of Pathlight Capital commented, “Pathlight was happy to associate with L Catterton and the administration staff in delivering liquidity to guidance the innovation iFIT delivers to the overall health and conditioning sector. The content material and interactive character of their numerous products choices carries on to revolutionize the in-home exercise encounter. We are pleased to be a aspect of this funds elevate and search ahead to the continued development of the company.”

About Pathlight Capital
Pathlight Cash is a non-public credit score expense manager focused to assembly the requires of companies that work throughout a wide variety of industries by furnishing asset-based mostly loans secured on a initial or second lien basis against tangible and intangible property. Pathlight aims to present resourceful financing remedies to enable management groups to entry incremental liquidity for the needs of funding working money, credit card debt refinancings, expansion, acquisitions, dividends and turnaround tactics. For extra information and facts, please pay a visit to www.pathlightcapital.com.

About iFIT Wellbeing & Conditioning Inc.
iFIT^® is a world-wide fitness and very well-being subscription technological innovation business that provides unmatched physical fitness activities and remedies to its escalating local community of more than 7.3 million customers in in excess of 120 nations around the world. iFIT’s market-primary models – NordicTrack^®, ProForm^®, Sweat^®, Freemotion^®, Weider^®and 29029^® – are powered by the iFIT integrated health and exercise system, which seamlessly connects the firm’s proprietary computer software, experiential articles and interactive components. Based mostly in Logan, Utah, with offices in Paris, Shanghai, Sydney and Leeds, the enterprise features immersive, adaptive, individualized exercise session ordeals for each physical fitness degree and fascination. iFIT delivers these patented interactive experiences via an comprehensive giving of stay and on-desire content material throughout the industry’s broadest variety of linked health and fitness modalities. iFIT is a pioneer and chief in the overall health and health and fitness field with far more than 400 issued and pending patents.