Latham Group Inc. (SWIM) Prices 20M Share IPO at $19/Sh
- Wall St drops at open as strong inflation stokes rate hike fears
- Fed Has Already Changed its Policy Due to Inflation, Market Gambling Fears - Dick Bove
- U.S. consumer prices post largest gain in nearly 12 years in April
- Bill Ackman said has been working on a transaction for Pershing Square Tontine (PSTH) for months
- FuboTV (FUBO) Surges After Crushing Views on New Subscribers Adds, Analysts Positive
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Latham Group, Inc. (NASDAQ: SWIM) today announced the pricing of its initial public offering of 20 million shares of its common stock at a price to the public of $19 per share. 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 has granted the underwriters a 30-day option to purchase up to an additional 3 million shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Select Market on April 23, 2021, under the ticker symbol “SWIM,” and the offering is expected to close on April 27, 2021, subject to customary closing conditions.
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. 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 bookrunning managers for the offering. Nomura, William Blair, Baird, KeyBanc Capital Markets and Truist Securities are also serving as bookrunners for the offering.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on April 22, 2021.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Better Confirms Merger with SPAC Aurora Acquisition Corp. (AURC)
- Ginkgo Bioworks and Soaring Eagle Acquisition (SRNG) have agreed to business combination
- Bird to Become A Public Company via Merger with Switchback II Corporation (SWBK)
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
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!