Latham set to go public as IPO pricing valued swimming pool company at $2.3 billion


Latham Group Inc.

is all set to go public Friday, as the New York-based in-ground residential swimming pools seller’s initial public offering priced overnight, valuing the company at about $2.29 billion. The company sold 20 million shares in the IPO to raise $380 million. The IPO priced at $19 a share, at the low end of the expected range of between $19 and $20 a share. The stock is expected to begin trading on the Nasdaq under the ticker symbol “SWIM.” Barclays, BofA Securities, Morgan Stanley and Goldman Sachs were the joint book-running managers. The company recorded net income of $16.0 million on revenue of $142.8 million in 2020, after income of $7.5 million on revenue of $98.2 million in 2019. Latham is going public at a time that the Renaissance IPO ETF
has dropped 11.1% over the past three months while the S&P 500
has gained 7.6%.


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