Latham closes its initial public offering

On April 27, Latham announced the closing of its initial public offering of 20 million shares of its common stock at a price to the public of $19 per share. The underwriters exercised in full their option to purchase an additional 3 million shares, which also completed April 27. The shares began trading on the Nasdaq Global Select Market on April 23 under the ticker symbol SWIM.

Latham sold 23,000,000 shares in its initial public offering and received gross proceeds of approximately $437 million. Latham used the net proceeds from the initial public offering to repay certain indebtedness under certain credit facilities, including its term and revolving credit facility indebtedness; to purchase shares of common stock from its principal stockholders and a current employee who is not an executive officer or a director of the company; and to pay fees and expenses in connection with the offering. Latham intends to use the remaining net proceeds for general corporate purposes.