Leslie's (NASDAQ:LESL) has announced a secondary offering of 12.50M shares of its common stock by selling stockholders.
Underwriters will be granted a 30-day option to purchase up to an additional 1,875,000 shares of common stock.
All proceeds from the sale will go to the selling stockholders.
Leslie's also announced a share repurchase agreement, under which it plans to buyback 7.5M shares of its common stock from the selling stockholders. The repurchase is expected to be consummated concurrently with the closing of the offering.
LESL is trading down 1.90% after-hours
Earlier this month, Leslie's announced a $300M share repurchase program; initiated FY22 guidance