Town Sports shareholder sells shares, reduces ownership to 22.5%

By Lisa Kerner

Charlotte, N.C., Aug. 14 - A group of Town Sports International Holdings, Inc. investors led by Farallon Capital Partners, LP sold 237,280 shares of the company's stock between Aug. 4 and Aug. 11 priced from $3.28 to $3.50 each, according to a schedule 13D/A filed on Friday with the Securities and Exchange Commission.

Farallon beneficially owns 5,093,999 shares, or 22.5%, of the company's outstanding stock.

New York-based Town Sports owns and operates fitness clubs in major metropolitan areas in the Northeast and Mid Atlantic.

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