Leslie’s, Inc. Announces Pricing of Secondary Offering of Shares
December 15 2021 - 7:30AM
Leslie’s, Inc. (the “Company” or “Leslie’s”) (Nasdaq: LESL) today
announced the pricing of an underwritten public offering of
12,500,000 shares of common stock (the “Offering”) by certain of
the Company’s non-management stockholders (the “Selling
Stockholders”). The Selling Stockholders have also granted the
underwriters a 30-day option to purchase up to an additional
1,875,000 shares of common stock. The Selling Stockholders will
receive all of the proceeds from the Offering. Leslie’s is not
offering any shares of its common stock in the Offering and will
not receive any proceeds from the Offering, including from any
exercise by the underwriters of their option to purchase additional
shares. Settlement is scheduled for December 16, 2021, subject to
customary closing conditions.
As previously announced, the Company also entered into a share
repurchase agreement with the Selling Stockholders pursuant to
which it intends to repurchase an aggregate of 7,500,000 shares of
the Company's common stock from the Selling Stockholders (the
"Share Repurchase"). The price per share to be paid by the Company
will be equal to the price per share paid by the underwriters for
the shares in the Offering. The Share Repurchase is expected to be
consummated concurrently with the closing of the Offering. Although
the Share Repurchase is conditioned upon, among other things, the
closing of the Offering, the closing of the Offering is not
conditioned upon the closing of the Share Repurchase.
Goldman Sachs & Co. LLC and Morgan Stanley are acting as the
underwriters for the Offering.
An automatic shelf registration statement on Form S-3 (including
a prospectus) relating to these securities became effective upon
filing with the Securities and Exchange Commission. The Offering
will be made only by means of a prospectus supplement and the
accompanying prospectus. Copies of the preliminary prospectus
supplement and accompanying prospectus relating to the Offering
and, when available, final prospectus supplement and accompanying
prospectus can be obtained from: Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com; Morgan Stanley & Co. LLC, Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014.
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Leslie’s
Founded in 1963, Leslie's is the largest direct-to-consumer
brand in the U.S. pool and spa care industry, serving residential,
professional, and commercial consumers. Leslie's markets its
products through more than 950 physical locations and multiple
digital platforms. Our associates, pool and spa care experts, and
certified technicians are passionate about empowering consumers
with the knowledge, products, and solutions necessary to
confidently maintain and enjoy their pools and spas.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements may be identified by the use of
words such as “intend,” “expect”, and “may”, and other similar
expressions that predict or indicate future events or that are not
statements of historical matters. Forward-looking statements are
based on current information available at the time the statements
are made and on management’s reasonable belief or expectations with
respect to future events, and are subject to risks and
uncertainties, many of which are beyond the Company’s control, that
could cause actual performance or results to differ materially from
the belief or expectations expressed in or suggested by the
forward-looking statements. Further, many of these factors are, and
may continue to be, amplified by the COVID-19 pandemic. Additional
factors or events that could cause actual results to differ may
also emerge from time to time, and it is not possible for the
Company to predict all of them. Forward-looking statements speak
only as of the date on which they are made, and the Company
undertakes no obligation to update any forward-looking statement to
reflect future events, developments or otherwise, except as may be
required by applicable law. Investors are referred to the Company’s
registration statement for additional information regarding the
risks and uncertainties that may cause actual results to differ
materially from those expressed in any forward-looking
statement.
Contacts
InvestorsFarah Soi/Caitlin
ChurchillICRinvestorrelations@lesl.com
MediaDavid Isaacs/Hannah DunningSard Verbinnen &
Comedia@lesl.com
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