Lazydays Holdings, Inc. Announces Commencement of Public Offering of Common Stock
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced a public offering of 4,000,000 shares of common stock, with an option for underwriters to purchase an additional 600,000 shares. The proceeds will be used to repay debt and for general corporate purposes, including acquisitions and capital investments. Baird is the lead manager for the offering, which is made under an effective shelf registration statement. This strategic move aims to enhance liquidity and support future growth initiatives, despite the inherent market risks associated with such offerings.
- Intended use of proceeds includes debt repayment and funding future acquisitions.
- Offering structure allows for potential additional shares to be sold through underwriters.
- Issuance of new shares may lead to shareholder dilution.
- Market reactions could be negative due to increased share supply.
TAMPA, Fla., Oct. 13, 2020 /PRNewswire/ -- Lazydays Holdings, Inc. ("Lazydays" or the "Company") (NasdaqCM: LAZY) today announced that it intends to offer 4,000,000 shares of its common stock for sale in an underwritten public offering. In connection with this offering, Lazydays expects to grant the underwriters a 30-day option to purchase up to 600,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions. Lazydays intends to use the net proceeds from the proposed offering to repay outstanding indebtedness and for working capital and general corporate purposes, including but not limited to future acquisitions, recapitalizations and capital investments.
Baird is acting as the lead book-running manager for the offering, and Craig-Hallum Capital Group and Raymond James are acting as bookrunners for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-231975) and preliminary prospectus supplement filed with the U.S. Securities and Exchange Commission (the "SEC"). The preliminary prospectus supplement and the accompanying prospectus relating to the offering will be available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained from Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, by telephone at (800) 792-2473, or by email at syndicate@rwbaird.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other 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 other jurisdiction.
ABOUT LAZYDAYS RV
Lazydays, The RV Authority®, is an iconic brand in the RV industry. Home of the world's largest recreational dealership, based on 126 acres outside of Tampa, Florida, Lazydays has nine dealership locations in Arizona, Colorado, Florida, Indiana, Minnesota, and Tennessee. Lazydays also has a dedicated Service Center location in Texas. Offering the nation's largest selection of leading RV brands, Lazydays features over 3,000 new and pre-owned RVs, more than 400 service bays and two on-site campgrounds with over 700 RV campsites. In addition, Lazydays RV Accessories & More™ stores offer thousands of accessories and hard-to-find parts at dealership locations.
Since 1976, Lazydays has built a reputation for providing an outstanding customer experience with exceptional service and product expertise, along with being a preferred place to rest and recharge with other RVers. Lazydays believes that it consistently provides a superior RV purchase, service, and ownership experience, which is why RVers and their families keep returning to Lazydays year after year, calling it their "home away from home."
Lazydays Holdings, Inc. is a publicly listed company on the Nasdaq stock exchange under the ticker "LAZY."
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements describe Lazydays future plans, projections, strategies and expectations, including statements regarding the proposed offering of shares of common stock and the use of proceeds from such offering, are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Lazydays. Actual results could differ materially from those projected due to various factors, including economic conditions generally, conditions in the credit markets and changes in interest rates, conditions in the capital markets, the global impact of the pandemic outbreak of coronavirus (COVID-19) and other factors described from time to time in Lazydays' Securities and Exchange Commission reports and filings, which are available at www.sec.gov. Forward-looking statements contained in this news release speak only as of the date of this news release, and Lazydays undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances, unless otherwise required by law.
News Contact:
+1 (813) 204-4099
investors@lazydays.com
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SOURCE Lazydays Holdings, Inc.
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