SharkNinja slips as board chair to offload shares in secondary offering
20/08/2025 22:04
** Shares of home appliance maker SharkNinja SN.N down 2.7% post-market to $116.32 after secondary offering launched
** Needham, Massachusetts-based firm says shareholders affiliated with CJ Xuning Wang, chairperson of its board, to sell 5 mln shares
** JP Morgan and BofA are jt lead bookrunners for offering
** SharkNinja was spun out of its Hong Kong-listed parent JS Global Lifestyle 1691.HK in Jul 2023
** Sale by Wang, who is JS Global's CEO, will take his holdings in SharkNinja to ~55.9 mln shares, or 39.6% stake, per the offering prospectus
** SharkNinja has ~141.1 mln shares as of Aug 15, giving it about $16.9 bln market cap
** SN shares on Weds edged up 0.2% to close at $119.59, up ~23% YTD
** 11 of 12 analysts rate SN "strong buy" or "buy", 1 rates "hold" and median PT is $133.50, LSEG data reflects
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))