Leslie’s sets IPO price, valuing Valley pool supplier at a whopping $3 billion

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Posted at 9:09 AM, Oct 26, 2020
and last updated 2020-10-26 12:09:40-04

Leslie’s Inc. has set the terms for its proposed initial public offering, which shows that the Phoenix-based pool and spa supply retailer is planning on raising up to $640 million.

After first announcing earlier in October that it would be filing an IPO, the company released more details on Thursday, saying it is looking to sell a total of 40 million shares priced between $14 and $16 per share.

Leslie’s expects there will be 186.61 million shares outstanding after the IPO and, if sold at the high end of its range, the company would have a valuation of $2.98 billion, according to documents filed with the SEC.

Leslie’s indicated that it would use the proceeds of the IPO to pay off a $390 million debt that is due in 2024.

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