Leslie's plumbs new depths as Goldman prices big block

Leslies

09/12/2022 14:28

** Shares of pool supplies retailer Leslie’s Inc  LESL.O 
down 9.3% to new record low $11.60 premarket on block trade
    ** Goldman Sachs re-offered ~15 mln shares at $12.10, 5%
discount to Thurs close of $12.74, sources say
    ** Sellers could be private equity firm L Catterton and
Singaporean sovereign wealth fund GIC, who both took LESL public
in 2020 IPO at $17
    ** L Catterton and GIC own ~18 mln shares and ~11 mln
shares, respectively, per Refinitiv
    ** LESL has ~183.5 mln shares outstanding
    ** Through Thurs, shares have lost 15% since co on Nov 30
forecasted 2023 sales and earnings below consensus, citing
"challenging macro-economic backdrop"
    ** LESL shares down 46% YTD
 (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))