Latham dips after pricing stock deal
07/01/2022 13:30
** Fiberglass pool maker Latham Group's SWIM.O shares down
1.8% at $19.67 premarket after secondary offering prices
** Co late Thurs announced 12 mln shares at $19.50, 2.6%
discount to last sale urn:newsml:reuters.com:*:nGNX5VYc9r
** SWIM to use net proceeds to purchase shares primarily
from principal stockholders Pamplona Capital Management and
Wynnchurch Capital, and from management
** Co has ~119.9 mln shares outstanding, per Refinitiv data,
and ~73 mln of public float
** Barclays and BofA lead jt bookrunners for offering
** Shares have fallen 20% to start 2022 and sitting just
above the last April's IPO price of $19
** 6 of 8 analysts rate SWIM 'buy' or higher, 2 are neutral;
median PT is $28 - Refinitiv
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))