Camping World Announces Pricing of Offering of Class A Common Stock
Camping World Holdings (NYSE:CWH) has announced the pricing of a public offering of 14,634,146 shares of Class A common stock at $20.50 per share. The company granted underwriters a 30-day option for an additional 2,195,121 shares. The proceeds will be used to purchase common units from CWGS Enterprises, , which plans to use the funds for general corporate purposes, including balance sheet strengthening, working capital for growth, and debt reduction. The offering is expected to close on November 1, 2024, with Goldman Sachs and J.P. Morgan serving as joint lead book-running managers.
Camping World Holdings (NYSE:CWH) ha annunciato il prezzo di un'offerta pubblica di 14.634.146 azioni di azioni ordinarie di Classe A a $20,50 per azione. L'azienda ha concesso agli underwriter un'opzione di 30 giorni per ulteriori 2.195.121 azioni. I proventi saranno utilizzati per acquisire unità comuni da CWGS Enterprises, che intende utilizzare i fondi per scopi aziendali generali, incluso il rafforzamento del bilancio, il capitale circolante per la crescita e la riduzione del debito. Si prevede che l'offerta si chiuda il 1 novembre 2024, con Goldman Sachs e J.P. Morgan che agiranno come co-responsabili della gestione dell'offerta.
Camping World Holdings (NYSE:CWH) ha anunciado el precio de una oferta pública de 14,634,146 acciones de acciones ordinarias Clase A a $20.50 por acción. La empresa otorgó a los suscriptores una opción de 30 días para adquirir 2,195,121 acciones adicionales. Los ingresos se utilizarán para comprar unidades comunes de CWGS Enterprises, que planea usar los fondos para fines corporativos generales, incluidas el fortalecimiento del balance, capital de trabajo para el crecimiento y reducción de deuda. Se espera que la oferta se cierre el 1 de noviembre de 2024, con Goldman Sachs y J.P. Morgan como co-gestores principales.
캠핑 월드 홀딩스 (NYSE:CWH)는 14,634,146주의 A급 보통주에 대한 공개 입찰 가격을 주당 $20.50로 발표했습니다. 회사는 인수인에게 추가로 2,195,121주를 위한 30일 옵션을 부여했습니다. 수익금은 CWGS Enterprises로부터 보통주를 구입하는 데 사용될 예정이며, 이는 자산 재무 강화, 성장 위한 운영 자본 및 부채 감소 등 일반 기업 목적에 사용될 계획입니다. 이 공모는 2024년 11월 1일에 마감될 것으로 예상되며, 골드만 삭스와 JP모건이 공동 주관 매니저 역할을 합니다.
Camping World Holdings (NYSE:CWH) a annoncé le prix d'une offre publique de 14 634 146 actions de valeurs mobilières communes de Classe A à 20,50 $ par action. L'entreprise a accordé aux souscripteurs une option de 30 jours pour un additional 2 195 121 actions. Les recettes seront utilisées pour acheter des unités de CWGS Enterprises, qui prévoit d'utiliser ces fonds à des fins corporate générales, notamment le renforcement de son bilan, le fonds de roulement pour la croissance et la réduction de la dette. L'offre devrait se conclure le 1er novembre 2024, avec Goldman Sachs et J.P. Morgan en tant que directeurs principaux co-gérants.
Camping World Holdings (NYSE:CWH) hat den Preis für ein öffentliches Angebot von 14.634.146 Aktien der Klasse A zum Preis von 20,50 $ pro Aktie bekannt gegeben. Das Unternehmen hat den Underwritern eine 30-tägige Option auf zusätzliche 2.195.121 Aktien eingeräumt. Der Erlös soll verwendet werden, um Stammanteile von CWGS Enterprises zu erwerben, die die Mittel für allgemeine Unternehmenszwecke, einschließlich der Stärkung der Bilanz, Betriebskapital für Wachstum und Schuldenabbau nutzen möchte. Der Abschluss des Angebots wird für den 1. November 2024 erwartet, wobei Goldman Sachs und J.P. Morgan als gemeinsame leitende Bookrunner fungieren.
- Proceeds will be used to strengthen balance sheet and reduce debt
- Additional working capital secured for growth initiatives
- Potential dilution of existing shareholders through new share issuance
- Large offering size of 14.6M shares with potential additional 2.2M shares
Insights
This
The timing and size of this offering suggest management's proactive approach to fortifying the company's financial position. With
The closing of the offering is expected to occur on November 1, 2024, subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC and J.P. Morgan are serving as joint lead book-running managers and as representatives of the underwriters for the offering. BofA Securities, Wells Fargo Securities, KeyBanc Capital Markets, BMO Capital Markets and Baird are also acting as joint book-running managers for the offering.
The offering is being made pursuant to a shelf registration statement on Form S-3 that was filed with the SEC on October 30, 2024 and was effective upon filing. The offering is being made only by means of a written prospectus supplement and the accompanying base prospectus that forms a part of the registration statement.
A preliminary prospectus supplement relating to the offering (including the accompanying base prospectus) was filed with the SEC on October 30, 2024, and a final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. A copy of the final prospectus supplement may also be obtained, when available, from any of the following sources:
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Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, NY 10282, by telephone at 866-471-2526 or by email at prospectus-ny@ny.email.gs.com; or -
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Camping World Holdings, Inc.
Camping World Holdings, Inc., headquartered in
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements about the consummation of the offering, the terms of the offering and the anticipated use of the net proceeds from the offering. These forward-looking statements are based on management’s current expectations.
These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: general economic conditions, including inflation and interest rates; the availability of financing to us and our customers; fuel shortages, high prices for fuel or changes in energy sources; the success of our manufacturers; changes in consumer preferences; risks related to our strategic review of our Good Sam business; competition in our industry; risks related to acquisitions, new store openings and expansion into new markets; our failure to maintain the strength and value of our brands; our ability to manage our inventory; fluctuations in our same store sales; the cyclical and seasonal nature of our business; our dependence on the availability of adequate capital and risks related to our debt; risks related to COVID-19; our ability to execute and achieve the expected benefits of our cost cutting or restructuring initiatives; our reliance on our fulfillment and distribution centers; natural disasters, including epidemic outbreaks; our dependence on our relationships with third party suppliers and lending institutions; risks associated with selling goods manufactured abroad; our ability to retain senior executives and attract and retain other qualified employees; risks associated with leasing substantial amounts of space; risks associated with our private brand offerings; we may incur asset impairment charges for goodwill, intangible assets or other long-lived assets; tax risks; our private brand offerings exposing us to various risks; regulatory risks; data privacy and cybersecurity risks; risks related to our intellectual property; the impact of ongoing or future lawsuits against us and certain of our officers and directors; risks related to climate change and other environmental, social and governance matters; and risks related to our organizational structure.
These and other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10‑K for the year ended December 31, 2023, as updated by our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change, except as required under applicable law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.
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Brett Andress, SVP Corporate Development, and Investor Relations
InvestorRelations@campingworld.com
(866) 895-5330
Media Outlets
PR-CWGS@CampingWorld.com
Source: Camping World
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