Lazydays Holdings Announces Record Date for Anticipated Rights Offering

Lazydays Holdings, Inc. has made a significant announcement regarding its upcoming rights offering, setting a record date of January 13, 2025. This date marks a pivotal moment for shareholders as they will have the opportunity to participate in purchasing more shares of the company, a chance that is historically notable for public corporations such as Lazydays. The company operates under the ticker symbol GORV on Nasdaq, a testament to its established presence and operational maturity since its inception in 1976.

The company revealed that holders of common stock, as well as warrants to acquire common stock, will receive non-transferable rights for each share held as of the record date. Specifically, these rights will enable participants to buy 1.27 shares of common stock at a subscription price of $1.03 per share. However, this opportunity excludes clients of Alta Fundamental Advisers LLC and Coliseum Capital Management, LLC, who have waived their rights in this instance.

What Does This Mean for Shareholders?

Eligible shareholders will have more than a simple choice; they may choose to exercise their Basic Subscription Rights relative to their holdings at the record date. Additionally, if some shareholders fully exercise their rights while others do not, those participating fully will also be granted Over-Subscription Rights. This unique aspect means that shareholders could acquire additional shares beyond their initial allocation, depending on the availability of shares that remain unsubscribed after the initial offering window.

Lazydays Holdings anticipates that if the rights offering is fully subscribed, they could generate $25 million in gross proceeds. This influx of capital is expected to support a variety of corporate needs, primarily revolving around working capital and general corporate purposes, including paying down existing debts.

The urgency for interested shareholders is paramount as the rights will expire if not exercised by February 5, 2025, at 5:00 p.m. ET. While the company does reserve the right to extend this expiration window, any unexercised rights post-deadline will become worthless. This scenario emphasizes that proactive engagement from shareholders is crucial in this context.

The Road Ahead for Lazydays

The proceeds from the rights offering are not just another form of financing; they represent Lazydays' continued efforts to stabilize and grow within the competitive RV market. The company is known for its extensive inventory of top RV brands and a commitment to quality service and support for RV enthusiasts, making it a well-respected name in the industry. New shares issued will also be traded on Nasdaq under the ticker GORV, adding to their existing liquidity on the market.

While the independent committee of the Board of Directors has not made any recommendations regarding the exercise of these rights, the opportunity presented resounds as a meaningful step for both the company and its shareholders. Lazydays Holdings continues to emphasize the importance of informed investment decisions, encouraging shareholders to closely assess the offering and their participation based on personal or corporate investment strategies.

Inquiries regarding the rights offering can be directed to Broadridge Corporate Issuer Solutions, LLC, the designated information agent for this transaction, ensuring that existing and potential investors have access to all necessary information as they navigate this transitional phase.

The landscape of the RV market is known for its fluctuations; thus, the careful navigation through financial offerings such as this can be pivotal for shareholders. As always, staying informed and making strategic decisions based on comprehensive assessments will serve as the guiding principle for shareholders.

For those interested in further details, including obtaining a prospectus related to the rights offering, following up with the company or the identified information agent is advisable as the date approaches.

With this rights offering, Lazydays Holdings emphasizes not just its commitment to growth but also its dedication to community of RV owners and enthusiasts, ensuring that they remain a top choice within this dynamic industry.