Leslie's, Inc. Buyback
OLI recorded this information on 12/14/2021
Company:
Leslie's, Inc.
Buyback:
LESL buyback
Share Amount Authorized:
7,500,000
Buyback Details:
Leslie's, Inc. (the "Company" or "Leslie's") (Nasdaq: LESL) today announced that certain of the Company's non-management stockholders (the "Selling Stockholders") intend to offer for sale in an underwritten secondary offering 12,500,000 shares of the Company's common stock (the "Offering"). The Selling Stockholders will also grant 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. In addition, the Company announced that it has 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 will be conditioned upon, among other things, the closing of the Offering, the closing of the Offering will not be conditioned upon the closing of the Share Repurchase.
Leslie's is a direct-to-consumer pool and spa care brand in the U.S. Co. markets and sells pool and spa supplies and related products and services, which primarily consist of maintenance items such as chemicals, equipment and parts, and cleaning accessories, as well as safety, recreational, and fitness-related products. Co. also provides other services, such as equipment installation and repair for residential consumers and professional pool operators. Co. provides complimentary in-store water testing and analysis via its proprietary AccuBlue® system.
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Avg. Broker Rec.
  
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Hold (2.17 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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