TAMPA,
Fla., Feb. 12, 2025 /PRNewswire/ -- Lazydays
Holdings, Inc. ("Lazydays" or the "Company") (NasdaqCM: GORV)
announced today the closing of its previously announced rights
offering (the "Rights Offering").
Pursuant to the terms of the Rights Offering, 34,334 shares of
the common stock, par value $0.0001
per share (the "Common Stock"), were purchased pursuant to the
exercise of basic subscription rights, and 1,548 additional shares
of Common Stock were purchased pursuant to the over-subscription
privilege. As sufficient shares of Common Stock were
available after the expiration of the subscription period to
satisfy all over-subscription privilege requests, the Company
honored all over-subscription privilege requests in full. In the
aggregate, the Company issued 35,882 shares of Common Stock at the
subscription price of $1.03 per whole
share of Common Stock at the closing of the Rights Offering on
February 12, 2025 (the
"Closing").
The Company received approximately $36,958.46 in gross proceeds from the Rights
Offering. As further described in the registration statement and
prospectus for the Rights Offering, the Company expects to use the
proceeds from the Rights Offering for working capital and general
corporate purposes, including repayment of indebtedness.
Pursuant to the terms of the Rights Offering, the subscription
rights (the "Rights") that were not properly exercised by
5:00 p.m., Eastern Time, on
February 5, 2025 expired and became
of no further force or effect. The Rights Offering is terminated
with respect to shares not issued at the Closing.
The Rights Offering was made pursuant to the Company's
registration statement on Form S-1 (File No. 333-283548), as
amended, which was declared effective by the Securities and
Exchange Commission (the "SEC") on January
13, 2025. A final prospectus describing the terms of the
Rights Offering was filed with the SEC on January 13, 2025.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Rights, Common Stock or
any other securities, nor will there be any offer, solicitation or
sale of any of the Rights, Common Stock or any other securities 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 such state or other jurisdiction.
About Lazydays
Lazydays has been a prominent player in the RV industry since
our inception in 1976, earning a stellar reputation for delivering
exceptional RV sales, service, and ownership experiences. Our
commitment to excellence has led to enduring relationships with
RVers and their families who rely on us for all of their RV
needs.
Our wide selection of RV brands from top manufacturers,
state-of-the-art service facilities, and an extensive range of
accessories and parts ensure that Lazydays is the go-to destination
for RV enthusiasts seeking everything they need for their journeys
on the road. Whether you're a seasoned RVer or just starting your
adventure, our dedicated team is here to provide outstanding
support and guidance, making your RV lifestyle truly
extraordinary.
Lazydays is a publicly listed company on the Nasdaq stock
exchange under the ticker "GORV."
Forward Looking Statements
This press release includes "forward-looking statements" within
the meaning of the "Safe-Harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Forward looking
statements include statements regarding our goals, plans,
projections and guidance regarding our financial position, results
of operations, market position, pending and potential future
financing transactions and business strategy, and often contain
words such as "project," "outlook," "expect," "anticipate,"
"intend," "plan," "believe," "estimate," "may," "seek," "would,"
"should," "likely," "goal," "strategy," "future," "maintain,"
"continue," "remain," "target" or "will" and similar references to
future periods. Examples of forward-looking statements in this
press release include, among others, statements regarding the
anticipated use of proceeds from the Rights Offering.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events that depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance, and our actual results of operations, financial
condition and liquidity and development of the industry in which we
operate may differ materially from those made in or suggested by
the forward-looking statements in this press release. The risks and
uncertainties that could cause actual results to differ materially
from estimated or projected results include, without limitation,
future economic and financial conditions (both nationally and
locally), changes in customer demand, our relationship with, and
the financial and operational stability of, vehicle manufacturers
and other suppliers, risks associated with our indebtedness
(including our ability to obtain further waivers or amendments to
credit agreements, the actions or inactions of our lenders,
available borrowing capacity, our compliance with financial
covenants and our ability to refinance or repay indebtedness on
terms acceptable to us), acts of God or other incidents which may
adversely impact our operations and financial performance,
government regulations, legislation and others set forth throughout
under the headers "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors"
and in the notes to our financial statements, in our most recent
Quarterly Report on Form 10-Q, Annual Report on Form 10-K and from
time to time in our other filings with the SEC. We urge you to
carefully consider this information and not place undue reliance on
forward-looking statements. We undertake no duty to update our
forward-looking statements, which are made as of the date of this
press release.
Contact
investors@lazydays.com
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SOURCE Lazydays RV
