JS Global Lifestyle Company Limited completed the Spin-Off of SharkNinja, Inc. (NYSE:SN).
July 30, 2023
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The Board of JS Global Lifestyle Company Limited (SEHK:1691) announced the spin off of SharkNinja on February 23, 2023. SharkNinja Group will seek a separate listing on a U.S. Stock Exchange, focus on the U.S., Europe, and other selected international markets, excluding APAC. As of July 3, 2023, JS Global will receive one share of Shark Ninja for every 25 shares they held in the company as of record date of July 4, 2023.
For the period ended December 31, 2022, SharkNinja reported net sales of $3.7 billion, total assets of $3.3 billion and net profit of $232 million. The transaction is subject to approval of shareholders of JS Global Lifestyle and the relevant U.S. authorities. JS shareholders meeting will be scheduled to be held on June 26, 2023. The transaction is expected to close before the the end of 2023. As of July 3, 2023, Transaction is expected to close on August 1, 2023. Maples and Calder (Cayman), Howard L. Ellin and Ryan J. Dzierniejko of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors and Computershare, Inc. acted as a transfer agent to SharkNinja. Gram Capital Limited acted as financial advisor to JS Global Lifestyle Company Limited.
JS Global Lifestyle Company Limited completed the Spin-Off of SharkNinja, Inc. (NYSE:SN) on July 31, 2023. Morgan Stanley acted as financial advisor to SharkNinja and JS Global Lifestyle Company Limited. Paul Hastings LLP advised the financial advisers.
SharkNinja, Inc. is a global product design and technology company, which offers lifestyle solutions for consumers around the world. The Company's product portfolio spans approximately 31 household sub-categories, across cleaning, cooking, food preparation, and others, which include home environment and beauty. The Company's brands include Shark and Ninja. The Shark brand offerings cover an expansive and diverse assortment of categories, including handheld and robotic vacuums, as well as other floorcare products including steam mops, wet/dry cleaning floor products and carpet extraction, beauty appliance and home environment products. Its cooking and beverage appliances include air fryers, multi-cookers, outdoor and countertop grills and ovens, coffee systems, carbonation, cookware, cutlery, kettles, toasters and bakeware. Its food preparation appliances include blenders, food processors, ice cream makers and juicers. Its beauty appliances offerings include hair dryers and stylers.
SHARKNINJA, INC. 
