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Hayward Holdings Inc HAYW has priced the previously announced underwritten public offering of 16 million shares of its common stock at $11.65 per share by funds affiliated with CCMP Capital Advisors, LP, and affiliates of Alberta Investment Management Corporation.
The offer price represents a 4.2% discount to Hayward’s closing price as of Mar. 1, 2023.
The selling stockholders intend to grant the underwriters a 30-day option to purchase up to an aggregate of 2.4 million additional shares.
The selling stockholders will receive all of the net proceeds from this offering. No shares are being sold by the company.
The company held 212.62 million shares outstanding. Upon the completion of this offering, affiliates of MSD Partners and CCMP will beneficially own approximately 33.65% and 14.84% of the company’s outstanding common stock, respectively (or 33.65% and 14.11%, respectively, if the underwriter options are exercised).
Price Action: HAYW shares are trading lower by 4.36% at $11.63 on the last check Thursday.
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