Leslie’s, Inc. Announces Pricing of Secondary Offering of Shares

About this update from Leslie's, Inc.

[{"type":"text","content":"PHOENIX, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Leslie’s, Inc. (the “Company” or “Leslie’s”) (Nasdaq: LESL) today announced the pricing of an underwritten public offering of 12,500,000 shares of common stock (the “Offering”) by certain of the Company’s non-management stockholders (the “Selling Stockholders”). The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock. The Selling Stockholders will receive all of the proceeds from the Offering. Leslie’s is not offering any shares of its common stock in the Offering and will not receive any proceeds from the Offering, including from any exercise by the underwriters of their option to purchase additional shares. Settlement is scheduled for December 16, 2021, subject to customary closing conditions. As previously announced, the Company also entered into a share repurchase agreement with the Selling Stockholders pursuant to which it intends to repurchase an aggregate of 7,500,000 shares of the Company's common stock from the Selling Stockholders (the \"Share Repurchase\"). The price per share to be paid by the Company will be equal to the price per share paid by the underwriters for the shares in the Offering. The Share Repurchase is expected to be consummated concurrently with the closing of the Offering. Although the Share Repurchase is conditioned upon, among other things, the closing of the Offering, the closing of the Offering is not conditioned upon the closing of the Share Repurchase. Goldman Sachs & Co. LLC and Morgan Stanley are acting as the underwriters for the Offering. An automatic shelf registration statement on Form S-3 (including a prospectus) relating to these securities became effective upon filing with the Securities and Exchange Commission. The Offering will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the Offering and, when available, final prospectus supplement and accompanying prospectus can be obtained from: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected]; Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2n...

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