Leslie's Prices 15.82 Mln Share Public Offering At $22 Per Share

Leslie's, Inc. (LESL) a direct-to-consumer pool and spa care brand, on Wednesday announced that the 15.82 million secondary offering by certain stockholders of the company will now be made at a price (before underwriting discounts and commissions) of $22.00 per share.

Leslie's is not offering any shares of its common stock in the offering and would not be receiving any proceeds from the offering, including from any exercise by the underwriters of their option to purchase additional shares. The selling stockholders would receive all of the proceeds from the offering.

The underwritten secondary offering of 15,820,000 shares of the company's common stock was upsized from the previously announced 13,000,000 shares.

The offering is expected to close on September 17. The selling stockholders have also granted the underwriters a 30-day option to purchase up to an additional 2,373,000 shares of common stock.

Morgan Stanley, Goldman Sachs & Co. LLC, and BofA Securities are acting as joint lead book-running managers and representatives of the underwriters for the offering. Jefferies and Wolfe | Nomura Strategic Alliance are also serving as bookrunners for the offering.

Baird, Guggenheim Securities, Piper Sandler, Stifel, William Blair, Telsey Advisory Group, Loop Capital Markets, Ramirez & Co., Inc., and AmeriVet Securities are serving as co-managers.

Shares of Leslie's closed Tuesday's trading at $22.38, up $0.06 or 0.27 percent from previous close.

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