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Lazydays Holdings Announces Rights Offering Update

Lazydays Holdings, Inc. has recently made headlines with its announcement regarding an amendment to the registration statement concerning its rights offering. 

The company has set the cash subscription price for each share of Common Stock in the Rights Offering at $6.399. This decision comes after careful deliberation by the Special Financing Committee of the Company’s Board of Directors.

The rights offering is not just a financial move but a strategic one. Holders as of October 23, 2023, are entitled to receive one Right for every share of Common Stock they own. This allows them the privilege to purchase 0.770 of a share of Common Stock at the cash Subscription Price. 

The Rights Offering includes both a Basic Subscription Right and an Over-Subscription Right, providing flexibility to the shareholders. The Rights will expire at 5:00 p.m., Eastern Time, on November 14, marking a crucial date in the company’s financial calendar, according to a press release.

The net proceeds from this offering are earmarked for specific growth initiatives. Lazydays Holdings aims to channel these funds towards acquisitions, new business development activities, and other general corporate purposes. This strategic allocation of resources underscores the company’s commitment to growth and expansion in the RV industry.

A significant highlight of this rights offering is the involvement of major shareholders. Christopher S. Shackelton, Chairman of the Board, has indicated that Coliseum’s clients, who own a substantial 56.2% of the Common Stock, have shown intent to participate in the Rights Offering. 

Their participation is a testament to the confidence in the company’s vision and future prospects.

The shares of Common Stock to be issued upon the exercise of the Rights will find their place on the Nasdaq, trading under the symbol “LAZY.” This listing further solidifies the company’s position in the financial markets and offers an avenue for potential investors to be a part of Lazydays Holdings’ journey.

For those seeking more information or having queries about the Rights Offering, the company has directed them to the Information Agent, Broadridge Corporate Issuer Solutions, Inc. This ensures transparency and provides an official channel for shareholders and potential investors to get their questions answered.

In recent times, Lazydays Holdings has been on an expansion spree. The company announced the opening of a new dealership in Wilmington, Ohio, marking its foray into the Northeast region. Additionally, acquisitions like that of Century RV in Longmont, Colorado, and Buddy Gregg RVs & Motor Homes in Knoxville, Tennessee, have strengthened its market presence.

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BlueRat1231
BlueRat1231
February 22, 2024 4:26 pm

Isn’t it remarkable how Lazydays Holdings’ amendment provides an opportunity for shareholders? Consider the advantages before participating in the Rights Offering.

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