Leslie’s Secondary Offering

Latham & Watkins LLP represented the underwriters in the offering.

Leslie’s, Inc., the largest direct-to-consumer brand in the US pool and spa care industry, serving residential, professional, and commercial consumers, has announced the pricing of the previously announced underwritten secondary offering by certain of the Company’s stockholders of 24,500,000 shares of the Company’s common stock, at a price of US$27.64 per share (before underwriting discounts and commissions). 

The Selling Stockholders have also granted the underwriters a 30-day option to purchase up to an additional 3,675,000 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. The offering is expected to close on June 14, 2021, subject to the satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, BofA Securities, Inc., Jefferies LLC, Nomura Securities International, Inc., Robert W. Baird & Co. Incorporated, Guggenheim Securities, LLC, Piper Sandler & Co., William Blair & Company, L.L.C., Stifel, Nicolaus & Company, Incorporated, Telsey Advisory Group LLC, Loop Capital Markets LLC, AmeriVet Securities, Inc., and Samuel A. Ramirez & Company, Inc. acted as underwriters for the offering.

Latham & Watkins LLP represented the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe (Picture) and Stelios Saffos, with associates Scott Westhoff, Taylor Stevens, Nicholas Reist, and Tayler Woelcke. Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim, with associate Lea Li; on benefits and compensation matters by New York counsel Rifka Singer, with associate Alisa Hand; on IP matters by New York partner Jeffrey Tochner, with associate Max Miroff; on data privacy and security matters by Boston associate Deborah Hinck; and on environment, land, and resources matters by New York counsel David Langer, with associate Jack Mathews.

Involved fees earner: Alisa Hand – Latham & Watkins; Deborah Hinck – Latham & Watkins; Marc Jaffe – Latham & Watkins; David Langer – Latham & Watkins; Jiyeon Lee-Lim – Latham & Watkins; Lea Li – Latham & Watkins; Guy Jack Mathews – Latham & Watkins; Max Miroff – Latham & Watkins; Nicholas Reist – Latham & Watkins; Stelios Saffos – Latham & Watkins; Rifka Singer – Latham & Watkins; Taylor Stevens – Latham & Watkins; Jeffrey Tochner – Latham & Watkins; Scott Westhoff – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: AmeriVet Securities; Bank of America Securities; Goldman Sachs & Co.; Guggenheim Securities; Jefferies; Loop Capital Markets; Morgan Stanley; Nomura Securities International Inc.; Piper Sandler; Robert W. Baird & Co.; Samuel A. Ramirez & Co.; Stifel, Nicolaus & Company, Incorporated; Telsey Advisory Group LLC; William Blair & Company, L.L.C.;

Author: Martina Bellini