NEEDHAM, Mass. - Shareholders affiliated with Xuning Wang, known as the Selling Shareholders, have initiated an underwritten public offering of 4,691,899 ordinary shares of SharkNinja, Inc. (NYSE: SN). The announcement made today indicated that the Selling Shareholders also plan to provide underwriters with a 30-day option to purchase up to an additional 703,785 shares.
SharkNinja, a product design and technology firm noted for its Shark and Ninja brands, will not be selling any shares nor will it receive proceeds from this offering. The transaction involves only the Selling Shareholders.
Goldman Sachs & Co (NYSE:GS). LLC, J.P. Morgan, Jefferies, and Morgan Stanley (NYSE:MS) are the joint lead book-running managers for the offering. BofA Securities, Guggenheim Securities, and William Blair are also serving as joint book-running managers.
The offering will be conducted through a prospectus, which is currently in a preliminary state and filed with the Securities and Exchange Commission (SEC). The registration statement, including the prospectus, is not yet effective, and the sale of these securities will not proceed until it is effective.
The press release highlighted that this announcement is not an offer to sell or a solicitation of an offer to buy these securities. Furthermore, the sale of these securities will not occur in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
SharkNinja is headquartered in Needham, Massachusetts, and employs over 3,000 associates globally. The company's products are distributed worldwide through various retailers and distributors.
The press release also contained forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainties, and changes in circumstances, which may cause actual results to differ materially from those expressed in the statements.
This article is based on a press release statement and provides an overview of the key facts regarding SharkNinja's shareholder offering.
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