The listing was slated to value the combined companies at $US845 million ($1.17 billion) however the agreement was terminated in October.
"While we remain optimistic about the current performance and long-term growth prospects of F45,the prolonged uncertainty around the pandemic has challenged our ability to successfully complete the business combination,"executive chairman Robert Beyer and chief executive Todd Purdy said in a joint statement.
F45 Training was started in Australia in 2013 by chief executive Adam Gilchrist (not the cricketer),Rob Deutsch and Luke Istomin and grew rapidly with more than 1900 franchises sold including 500 in Australia and investors including US actor Mark Wahlberg.
However on Monday the fitness juggernaut will battle competing group fitness chain Body Fit Training in a dispute over an alleged patent infringement (and unrelated to F45's float hopes) which is listed for a two day hearing in the Federal Court.
In the proceedings F45 Training claims Body Fit Training infringed its innovation patents relating to the management of its franchises through a central computer system.
F45 Training alleges it had suffered financial loss as a result of franchisees who would otherwise have bought a franchise from F45 Training but bought one from Body Fit Training instead.
In its defence Body Fit Training denied it operated open studio environments like F45 Training and instead pointed to fixed equipment,including rigs,astro turf tracks and ski machines in each studio.