Xponential Fitness LLC, which operates gyms including Club Pilates and CycleBar, plans to raise about $300 million from a U.S. IPO, Bloomberg News reported Jan. 14, citing sources.

The gym operator is seeking a valuation of about $1 billion and has enlisted Bank of America Corp., Goldman Sachs Group Inc. and Jefferies Financial Group Inc. as advisers, according to the report.

California-based Xponential did not immediately respond to requests for comment from S&P Global Market Intelligence and told Bloomberg News that it does not comment on rumors or speculation.

Luxury gym company Equinox Fitness Holdings Uk Ltd. is reportedly in "advanced discussions" to invest in Xponential, the report added.