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YogaWorks has registered an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company did not mention any pricing details in the filing, although the offering is valued up to $74.75 million. The company intends to list its shares on the Nasdaq under the symbol YOGA.

The underwriters for the offering are Cowen, Stephens, Guggenheim Securities and Roth Capital Partners.

This is one of the largest and fastest growing providers of high-quality yoga instruction in the United States, with almost 3 million student visits in 2016 and 50 company-owned studios, as well as its internet-based digital media service. YogaWorks is the only national, multi-discipline yoga instruction company, and its brand is present in six geographically dispersed U.S. markets: Los Angeles, Orange County (California), New York City, Northern California, Boston and Baltimore/Washington D.C.

Its teachers taught more than 180,000 classes in its conveniently located studios and attracted more than 225,000 students in 2016. Since 1990, YogaWorks has offered the YogaWorks teacher training program, which it believes is the gold standard within the yoga community and respected across the globe for instructing teachers on how to teach yoga to a broad population of students.

Management believes its YogaWorks teacher training program extends the brand beyond current six markets and that its 11,000 graduates serve as ambassadors of the YogaWorks brand.

The company said in the filing:

We strive to make yoga accessible to everyone and offer a lifestyle approach that can be applied on and off the mat. We help people improve their physical and mental well-being through the 5,000 year old tradition of yoga, which we practice as a community-oriented experience. Our classes are designed to safely challenge practitioners of all levels, making yoga accessible to a diverse population ranging from beginners and casual practitioners to seasoned yogis and professional athletes. We are told some students find yoga to be the only form of exercise they need or wish to do. Others enjoy how yoga complements their other exercise routines, as yoga can enhance performance and reduce injuries by helping people stretch to increase flexibility, strength, balance and focus.

The company intends to use the net proceeds from this offering to repay debt and for working capital and general corporate purposes.