#USA #Tampa #Rights Offering #GORV #Lazydays

Lazydays Holdings Announces Effective Registration Statement for Rights Offering

Lazydays Holdings, Inc. has officially announced that its registration statement regarding its newly introduced rights offering has been deemed effective by the Securities and Exchange Commission (SEC) as of January 13, 2025. This new initiative is expected to empower shareholders by providing them with an opportunity to increase their stake in the company at a favorable subscription price.

The rights offering is structured so that each holder of Lazydays' common stock as of the record date, which falls at 5:00 PM, New York City time, on January 13, will receive one non-transferable right for every share owned. For these holders, exercising their right allows them the opportunity to purchase 1.27 additional shares of common stock at a subscription price set at $1.03 per share. Notably excluded from this offering are clients of Alta Fundamental Advisers LLC and Coliseum Capital Management, LLC, as they have waived their rights for this offering.

In essence, each right will carry both a Basic Subscription Right and an Over-Subscription Right. The Basic Subscription Right allows shareholders to purchase their allocated shares, while the Over-Subscription Right enables those who have exercised their basic rights in full to purchase additional shares that remain unsubscribed. If requests via the Over-Subscription Right exceed the available shares, they will be allocated on a pro-rata basis.

Should the rights offering reach full subscription, Lazydays anticipates raising roughly $23.6 million in net proceeds, which will be utilized mainly for working capital, general corporate needs, and the repayment of certain debts. Overall, the company plans to issue about 24.3 million shares based on projections from this offering.

The rights certificates, along with a detailed prospectus about the offering, will be dispatched starting on or about January 14, 2025, to holders of common stock and warrants. However, it is important to highlight that shareholders whose stocks are maintained in “street name” via brokerage or other financial intermediaries will not receive physical certificates. Instead, they will need to communicate with their banks or brokers on how to proceed regarding the subscription rights on their behalf.

The rights offering is set to conclude at 5:00 PM, New York City time, on February 5, 2025, barring any extensions made at Lazydays' discretion. Shareholders are advised that rights not exercised by the expiration date will become void without any value.

Lazydays is a publicly traded entity under the Nasdaq symbol “GORV,” and the shares to be issued as part of this rights offering will also be listed on Nasdaq for trading.

It is crucial for shareholders to independently evaluate the business performance and prospects before deciding whether to exercise their rights, as the management or Board of Directors has not issued any recommendations regarding the offering. The company's management encourages a careful review of the final prospectus filed with the SEC, which contains vital information pertaining to the rights offering.

As for the future, Lazydays has established itself as a major player within the RV industry since its inception in 1976, focusing on delivering superior RV sales, maintenance, and service expertise. This rights offering represents a significant tool for further engaging with its dedicated client base, while ensuring the essentials for its ongoing operational success.

For any questions concerning the rights offering or to request a prospectus, interested parties can reach out to Broadridge Corporate Issuer Solutions, LLC at their designated contact methods.

In conclusion, this strategic move by Lazydays Holdings marks an important step in their efforts to maximize shareholder equity and solidify their standing within the RV market. Investors and potential subscribers will have to remain vigilant, making well-informed decisions regarding their participation in the offering.