IPO for Pool-Company Leslie's (LESL) Opens 21% Higher

Today's IPO for Leslie's, Inc. (NASDAQ: LESL) opened for trading at $20.60 after pricing 40,000,000 shares of its common stock at an initial public offering price of $17.00 per share. The offering consists of 30,000,000 shares of common stock being sold by Leslie's and 10,000,000 shares of common stock being sold by a parent entity of Leslie's majority owned by L Catterton and GIC.

In addition, the Selling Stockholder granted the underwriters a 30-day option to purchase up to 6,000,000 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions to cover over-allotments, if any.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and BofA Securities are acting as joint lead book-running managers for the offering. Jefferies and Nomura are also serving as bookrunners for the offering with Baird, Guggenheim Securities, Piper Sandler, William Blair, Telsey Advisory Group, Loop Capital Markets, Ramirez & Co., Inc., and AmeriVet Securities serving as co-managers.

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 900 physical locations and multiple digital platforms. The company employs more than 5,000 associates, pool and spa care experts, and experienced service technicians who are passionate about empowering consumers with the knowledge, products, and solutions necessary to confidently maintain and enjoy their pools and spas.

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