Lazydays, a leading RV industry brand, recently announced the successful exercise of common and preferred warrants issued during its March 2018 de-SPAC transaction.
With the warrants expiring on March 15, 2023, the company reported that approximately 4.0 million of the total 4.3 million common share warrants were exercised, with the remaining 300,000 expiring.
These common warrants were redeemable at one-half common share per warrant, according to a press release.
Furthermore, Lazydays reported that approximately 675,000 preferred warrants were exercised at a ratio of one common share per warrant, while 50,000 expired.
The exercise price for all warrants was set at $11.50 per common share, resulting in the issuance of approximately 2.7 million shares and proceeds amounting to $30.5 million year-to-date.
This financial boost reinforces Lazydays’ position as a prominent brand in the RV industry, known for delivering exceptional customer experiences and product expertise.
The company’s rapid expansion strategy includes both acquisitions and greenfield projects, demonstrating its commitment to becoming a preferred destination for RVers and their families.
Established in 1976, Lazydays has built a strong reputation for providing outstanding customer experiences, service excellence, and unparalleled product knowledge.
Offering the largest selection of RV brands from the nation’s leading manufacturers, state-of-the-art service facilities, and thousands of accessories and hard-to-find parts, Lazydays aims to fulfill every need and want of RV enthusiasts.
With this successful warrant exercise, Lazydays continues to strengthen its presence in the RV market, working towards further expansion and delivering exceptional value to its customers.
Seems like Lazydays is on the move with warrant success and strategic expansion. They’re really ramping up their game!