Latham set to go public as IPO pricing valued swimming pool firm at $2.three billion
Latham Group Inc.’s SWIM is set to go public on Friday as the New York-based residential swimming pool seller’s IPO comes overnight at an overnight price tag and the company is valued at approximately $ 2.29 billion. The company sold 20 million shares in the IPO to raise $ 380 million. The IPO was $ 19 per share on the lower end of the expected range of $ 19 to $ 20 per share. The stock is expected to trade on the Nasdaq under the symbol “SWIM”. Barclays, BofA Securities, Morgan Stanley and Goldman Sachs were the joint book-running managers. The company posted net income of $ 16.0 million on sales of $ 142.8 million in 2020, compared with a profit of $ 7.5 million on sales of $ 98.2 million in 2019. Latham goes public at a time when the IPO of the Renaissance IPO ETF has fallen + 1.60% by 11.1%. While the S&P 500 SPX gained + 0.94% in the last three months, it flipped 7.6% to.