Latham Group Inc. (SWIM) Announces 20M Share IPO Between $19-$21/Sh
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Latham Group, Inc. (NASDAQ: SWIM) today announced that it has launched the roadshow for its proposed initial public offering. Latham is the largest designer, manufacturer and marketer of in-ground residential swimming pools in North America, Australia and New Zealand. With an operating history that spans over 60 years, the Company offers the industry’s broadest portfolio of pools and related products, including in-ground swimming pools, pool liners and pool covers.
Latham is offering 20,000,000 shares of its common stock. The initial public offering price is expected to be between $19.00 and $21.00 per share. Latham intends to list its common stock on The Nasdaq Global Select Market under the ticker symbol “SWIM.” The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.
Latham intends to use the proceeds from the offering to repay some of its indebtedness under certain credit facilities, including its term and revolving credit facility indebtedness, to acquire shares of common stock from its principal stockholders and a current employee who is not an executive officer or director of Latham and to pay fees and expenses in connection with the offering.
Latham also intends to grant the underwriters a 30-day option to purchase up to 3,000,000 additional shares of common stock. If the underwriters exercise their option to purchase additional shares, Latham intends to use the net proceeds therefrom to acquire shares of common stock from its principal stockholders and a current employee who is not an executive officer or director of Latham.
Barclays, BofA Securities, Morgan Stanley and Goldman Sachs & Co. LLC are acting as representatives of the underwriters and book-running managers for the offering. Nomura, William Blair, Baird, KeyBanc Capital Markets and Truist Securities are also serving as bookrunners for the offering.
The offering will be made only by means of a prospectus which will be filed with the SEC and will be available on the SEC's website at www.sec.gov.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs
Related EntitiesWilliam Blair, Goldman Sachs, KeyBanc, Morgan Stanley, Robert W Baird, Barclays, Nomura, Definitive Agreement, IPO
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