Lazydays Sets Record Date for Exciting Rights Offering

Lazydays Announces Record Date for Rights Offering

Lazydays Holdings, Inc. (NasdaqCM: GORV) is gearing up for an exciting rights offering. The special independent committee of the Board of Directors has confirmed key details, including the record date for this initiative, which is vital for investors closely monitoring their options.

Details of the Rights Offering

The record date has been set for January 13, 2025. This means that holders of Common Stock and certain warrants will have specific rights associated with their shares. Each holder will obtain one non-transferable right for every share of Common Stock they own or are entitled to exercise or convert into shares. This is a unique opportunity to engage with Lazydays as it opens doors to shareholders.

What Are These Rights?

Each right allows holders to purchase 1.27 shares of Common Stock at a price of just $1.03 per share. This structured offering encompasses both a Basic Subscription Right and an Over-Subscription Right. The basic rights will be aligned with shares held on the record date, making it essential for shareholders to understand their stakes clearly.

Expectations and Utilization

Should the offering capture full interest, the anticipated gross proceeds are approximately $25 million. This capital will be crucial for Lazydays, primarily allocated towards working capital, meeting corporate needs, and potentially repaying debts to maintain financial health and operational efficiency.

Important Dates and Rights Expiration

All rights must be exercised by 5:00 p.m. Eastern Time on February 5, 2025. However, there may be an extension for exercising available rights. It is crucial for holders to be aware that any unexercised rights will expire post this date without any value, signaling a significant opportunity not to overlook.

Trading Information

Once the rights are exercised, the newly issued Common Stock shares will be listed for trading on the Nasdaq under the GORV ticker. However, it’s important to note that these rights themselves will not be transferable or listed on any exchange.

Making Informed Decisions

The Board of Directors is not making recommendations on whether to exercise the rights. It’s highlighted that holders should independently assess the benefits of exercising based on their own perspectives on Lazydays’ market positioning and business wellbeing.

About Lazydays

Since its establishment in 1976, Lazydays has revolutionized the RV industry. Their stellar reputation stems from a commitment to providing exceptional sales, service, and ownership experiences for RV enthusiasts. The breadth of RV brands and accessory offerings makes Lazydays a prime destination for anyone looking to embark on adventures.

The company's expansive selection from top manufacturers and state-of-the-art service facilities equips RVers with the necessary tools for their journeys. Regardless of whether travelers are seasoned pros or just starting their adventures, the dedicated team at Lazydays ensures a supportive and fulfilling RV lifestyle experience.

Contact Information

For inquiries related to the rights offering or to request informational materials, potential investors can connect with Broadridge Corporate Issuer Solutions, LLC, at 888-789-8409. This ensures that all interested parties remain informed and supplied with the essential materials as they navigate through this offering.

Frequently Asked Questions

What is the record date for the rights offering?

The record date is set for January 13, 2025.

How many rights will each holder receive?

Each holder will receive one non-transferable right for every share of Common Stock owned as of the record date.

What is the purchase price per share in this offering?

The purchase price per share is $1.03.

What will the raised funds be used for?

The funds are expected to be used for working capital, corporate needs, and repayment of debts.

When does the rights offer expire?

The rights must be exercised by 5:00 p.m. on February 5, 2025.

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