Home Legal Advice Latham & Watkins Advises Underwriters on Leslie’s, Inc. Secondary Offering

Latham & Watkins Advises Underwriters on Leslie’s, Inc. Secondary Offering

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Leslie’s, Inc., the most important direct-to-consumer kind within the US pool and spa care trade, serving residential, skilled, and business customers, has introduced the pricing of the beforehand introduced underwritten secondary providing by sure of the Company’s stockholders of 24,500,000 shares of the Company’s frequent inventory, at a worth of US$27.64 per share (earlier than underwriting reductions and commissions).

The Selling Stockholders have additionally granted the underwriters a 30-day choice to buy as much as a further 3,675,000 shares of frequent inventory. The Selling Stockholders will obtain the entire proceeds from the providing. Leslie’s is just not providing any shares of its frequent inventory within the providing and won’t obtain any proceeds from the providing, together with from any train by the underwriters of their choice to buy further shares. The providing is predicted to shut on June 14, 2021, topic to the satisfaction of customary closing situations.

Latham & Watkins LLP represented the underwriters within the providing with a capital markets crew led by New York companions Marc Jaffe and Stelios Saffos, with associates Scott Westhoff, Taylor Stevens, Nicholas Reist, and Tayler Woelcke. Advice was additionally supplied on tax issues by New York accomplice Jiyeon Lee-Lim, with affiliate Lea Li; on advantages and compensation issues by New York counsel Rifka Singer, with affiliate Alisa Hand; on IP issues by New York accomplice Jeffrey Tochner, with affiliate Max Miroff; on information privateness and safety issues by Boston affiliate Deborah Hinck; and on setting, land, and assets issues by New York counsel David Langer, with affiliate Jack Mathews.

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