SharkNinja Announces Launch of Secondary Offering of Ordinary Shares

Rhea-AI Summary

SharkNinja, Inc. (SN) announces a public offering of 4,691,899 ordinary shares by certain selling shareholders. The underwritten offering includes a 30-day option for additional shares. SharkNinja will not receive proceeds from the sale. Leading financial institutions are managing the offering.

NEEDHAM, Mass.--(BUSINESS WIRE)-- SharkNinja, Inc. (NYSE: SN), a global product design and technology company, today announced that certain selling shareholders affiliated with Xuning Wang (collectively, the “Selling Shareholders”) have commenced an underwritten public offering of 4,691,899 ordinary shares of SharkNinja pursuant to a registration statement on Form F-1 filed with the Securities and Exchange Commission (the “SEC”). Additionally, the Selling Shareholders intend to grant the underwriters a 30-day option to purchase up to an additional 703,785 ordinary shares of SharkNinja.

SharkNinja is not selling any ordinary shares in the offering and will not receive any of the proceeds from the sale.

Goldman Sachs & Co. LLC, J.P. Morgan, Jefferies and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. BofA Securities, Guggenheim Securities and William Blair are acting as joint book-running managers.

The proposed offering of these securities will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to this offering may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, email: prospectus-ny@ny-email.gs.com; J.P. Morgan Securities LLC, Attention: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, email: prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, telephone: (877) 821-7388, email: Prospectus_Department@Jefferies.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: dg.prospectus_requests@bofa.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, telephone: (212) 518-5548, email: GSEquityProspectusDelivery@guggenheimpartners.com; or William Blair & Company, L.L.C., Attention Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, telephone: (800) 621-0687, email: prospectus@williamblair.com.

A registration statement on Form F-1, including a prospectus, which is preliminary and subject to completion, relating to the proposed offering has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SharkNinja

SharkNinja is a global product design and technology company with a diversified portfolio of 5-star rated lifestyle solutions that positively impact people’s lives in homes around the world. Powered by two trusted, global brands, Shark and Ninja, the company has a proven track record of bringing disruptive innovation to market, and developing one consumer product after another has allowed SharkNinja to enter multiple product categories, driving significant growth and market share gains. Headquartered in Needham, Massachusetts with more than 3,000 associates, the company’s products are sold at key retailers, online and offline, and through distributors around the world.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements relating to the proposed offering. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors described in the registration statement, preliminary prospectus and, when available, the prospectus and other filings with the SEC. SharkNinja expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law. Forward-looking statements speak only as of the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240318718261/en/

Investor Relations:

Arvind Bhatia, CFA

SVP, Investor Relations

IR@sharkninja.com



Anna Kate Heller

ICR

SharkNinja@icrinc.com



Media Relations:

Sarah McKinney

VP, Corporate Communications

PR@sharkninja.com

Source: SharkNinja

FAQ

How many ordinary shares are being offered by the selling shareholders?

The selling shareholders are offering 4,691,899 ordinary shares of SharkNinja.

Will SharkNinja receive any proceeds from the sale of shares?

SharkNinja will not receive any proceeds from the sale of ordinary shares by the selling shareholders.

Which financial institutions are acting as joint lead book-running managers for the offering?

Goldman Sachs & Co. , J.P. Morgan, Jefferies, and Morgan Stanley are acting as joint lead book-running managers for the offering.

Is there an option for additional shares in the offering?

Yes, the selling shareholders intend to grant the underwriters a 30-day option to purchase up to an additional 703,785 ordinary shares of SharkNinja.

How can one obtain the preliminary prospectus for this offering?

Copies of the preliminary prospectus can be obtained from various financial institutions involved in the offering such as Goldman Sachs, J.P. Morgan, Jefferies, Morgan Stanley, BofA Securities, Guggenheim Securities, and William Blair.