Latham Group, Inc. - SWIM STOCK NEWS

Latham, The Pool Company, has launched Plan Your Pool, an interactive section on its website, designed for homeowners to personalize and budget their swimming pool projects. This tool allows users to explore pool shapes, backyard requirements, and installation details, making the planning process more engaging. Additionally, it features a Pool Cost Estimator to compare pricing options. The initiative marks Latham as a leader in the industry, enhancing customer experience with innovative technology. For more information, visit www.lathampool.com.

Latham Group, Inc. (NASDAQ: SWIM) reported strong first quarter results for fiscal 2021, with net sales reaching $148.7 million, up 191% year-over-year. Net income rose to $8.5 million, contrasting a net loss of $15.5 million in the previous year. Adjusted EBITDA increased to $33.5 million, reflecting a margin of 22.5%. The growth is attributed to robust consumer demand, price increases, and expanded partnerships. The company forecasts net sales between $580 million and $620 million for the full fiscal year.

Latham Group, Inc., a leading manufacturer of in-ground residential swimming pools, is set to release its Q1 financial results for fiscal year 2021 on June 3, 2021, before the market opens. A conference call to discuss these results will follow at 9:00 a.m. ET. Participants can pre-register for the call online to receive a confirmation email with access details. A live audio webcast will also be available on the company's investor relations website.

Latham Group, Inc. announced the closing of its initial public offering (IPO) on April 27, 2021, of 20,000,000 shares at $19.00 each, raising approximately $437 million in gross proceeds. The underwriters exercised an option to buy an additional 3,000,000 shares, completing a total offering of 23,000,000 shares. Funds from the IPO will be used to reduce debt, purchase stock from principal stockholders, and cover offering-related expenses. The shares began trading on the Nasdaq under the ticker symbol 'SWIM' on April 23, 2021.

Latham Group announced its initial public offering (IPO) pricing of 20 million shares at $19 each. As the leading designer and manufacturer of in-ground residential pools in North America, Australia, and New Zealand, Latham plans to utilize the proceeds to repay debts and acquire shares from principal stockholders. The underwriters have an option for an additional 3 million shares. Trading is set to begin on Nasdaq on April 23, 2021, under the ticker symbol “SWIM,” and the offering is expected to close on April 27, 2021.

Latham Group, Inc. has initiated a roadshow for its proposed IPO, targeting 20,000,000 shares at an anticipated price of $19.00 to $21.00 each. As the largest in-ground residential swimming pool designer and manufacturer in North America, Australia, and New Zealand, Latham aims to list on Nasdaq under the symbol 'SWIM.' Proceeds from the offering will be utilized to reduce debt, acquire shares from principal stockholders and a non-executive employee, and cover offering costs. The offering is contingent on market conditions, with a 30-day option for underwriters to purchase an additional 3,000,000 shares.

Latham Group, Inc. has appointed Suzan Morno-Wade to its Board of Directors effective March 31, 2021. Currently the Chief Human Resources Officer at Xerox, Morno-Wade brings 20 years of leadership experience from various global companies including Hess and General Electric. CEO Scott Rajeski highlighted her expertise in human resources, which is expected to support Latham’s growth and transformational journey as a leader in fiberglass pools. Morno-Wade expressed enthusiasm for her new role and commitment to enhancing the company's human capital strategy.

Latham Group has filed a registration statement for its initial public offering (IPO) of common stock with the SEC. The number of shares and pricing details are yet to be determined. The company aims to list its stock on Nasdaq under the ticker symbol SWIM. The offering, which depends on market conditions, may not proceed as planned. Major financial institutions including Barclays, BofA Securities, Morgan Stanley, and Goldman Sachs are set to manage the offering. The registration statement has been submitted but is not yet effective, meaning shares cannot be sold until it is approved.