BUZZ-SharkNinja dips as chairman to sell shares in secondary offering

Reuters03-18

** Shares of SharkNinja Inc down 1.1% at $57.30 on Mon after home appliance maker launches secondary offering

** Co says shareholders affiliated with CJ Xuning Wang to sell ~4.7 mln shares

** SN's shares opened at $29.35 on Jul 31 after spin-off from its Hong-Kong-listed parent JS Global Lifestyle

** Wang, who is JS Global's CEO and SN's chairman, will control 51% of voting power of SN's shares post offering, per the SEC filing

** SN has ~139 mln shares outstanding

** Co last month posted Q4 adj EPS of 94 cents, topping LSEG est by 8 cents, and up from 54 cents a yr-ago. It also projected 2024 adj earnings of $3.45-$3.61

** Goldman Sachs, JP Morgan, Jefferies and Morgan Stanley leading the secondary offering, slated to price Tues after the bell

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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