SharkNinja dips as chairman to sell shares in secondary offering
18/03/2024 14:41
** Shares of SharkNinja Inc SN.N down 1.1% at $57.30 on
Mon after home appliance maker launches secondary offering
** Co says shareholders affiliated with CJ Xuning Wang to
sell ~4.7 mln shares
** SN's shares opened at $29.35 on Jul 31 after spin-off
from its Hong-Kong-listed parent JS Global Lifestyle 1691.HK
** Wang, who is JS Global's CEO and SN's chairman, will
control 51% of voting power of SN's shares post offering, per
the SEC filing
** SN has ~139 mln shares outstanding
** Co last month posted Q4 adj EPS of 94 cents, topping LSEG
est by 8 cents, and up from 54 cents a yr-ago. It also projected
2024 adj earnings of $3.45-$3.61
** Goldman Sachs, JP Morgan, Jefferies and Morgan Stanley
leading the secondary offering, slated to price Tues after the
bell
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))