Hayward (HAYW) Prices Secondary Offering of 24,000,000 Shares of Common Stock by Selling Stockholders and Repurchase of Common Stock

May 3, 2022 9:29 AM EDT

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Hayward Holdings, Inc. (NYSE: HAYW) (the “Company”), a global designer, manufacturer and marketer of a broad portfolio of pool equipment and associated automation systems, today announced that funds affiliated with CCMP Capital Advisors, LP and Alberta Investment Management Corporation (the “Selling Stockholders”), announced the pricing of an underwritten secondary offering of 24,000,000 shares of its common stock at a public offering price of $14.50 per share pursuant to an automatic shelf registration statement (the “Offering”) filed with the Securities and Exchange Commission (the “SEC”). The Selling Stockholders intend to grant the underwriters a 30-day option to purchase up to an aggregate of 3,600,000 additional shares of the Company’s common stock. The Selling Stockholders will receive all of the net proceeds from this offering. No shares are being sold by the Company.

Subject to the completion of the Offering, the Company intends to repurchase from the underwriters 8,000,000 shares of the common stock being sold in the Offering at a price per share equal to the price per share paid by the underwriters to the Selling Stockholders in the Offering. The Company intends to fund the share repurchase with cash on hand and borrowings under its revolving credit facility. The closing of the share repurchase is conditioned on, and expected to occur simultaneously with, the closing of the Offering. The Offering is expected to close on May 5, 2022 subject to customary closing conditions.

Goldman Sachs & Co. LLC, BofA Securities and Wolfe | Nomura Alliance, will act as joint lead book-running managers for the Offering. Baird, Guggenheim Securities, William Blair, Credit Suisse, Morgan Stanley and Jefferies are also acting as joint book-running managers. KeyBanc Capital Markets, BMO Capital Markets and AmeriVet Securities are acting as co-managers. “Wolfe | Nomura Alliance” is the marketing name used by Wolfe Research Securities and Nomura Securities International, Inc. in connection with certain equity capital markets activities conducted jointly by the firms. Both Nomura Securities International, Inc. and WR Securities, LLC are serving as underwriters in the offering described herein. In addition, WR Securities, LLC and certain of its affiliates may provide sales support services, investor feedback, investor education, and/or other independent equity research services in connection with this offering.



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