Leslie’s Poolmart to Make 1.9-Million Share Offering
Leslie’s Poolmart, a Chatsworth-based retailer of swimming pool supplies, plans to raise about $20 million through an initial public offering of 1.9 million common shares, according to documents filed with the Securities and Exchange Commission.
Proceeds from the offering will be used to repay part of a $21-million term loan that matures in 1996, the filing said.
The company has applied to have the shares listed on the NASDAQ trading network. The shares, which are expected to sell for between $9 and $10.50 each through Montgomery Securities and Robertson, Stephens & Co., will represent about 44% of Leslie’s Poolmart after the offering.
The company has also registered 500,000 shares with the SEC that may be sold by certain shareholders, including Leslie’s Poolmart President Richard H. Hillman, chairman and chief executive Michael J. Fourticq, and June Associates of Inglewood.
Leslie’s Poolmart operates 85 stores in 20 states and plans to open another 25 stores and a Dallas-based distribution center.
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