LOUDON, Tenn., July 7, 2014 (GLOBE NEWSWIRE) -- Malibu Boats, Inc., (Nasdaq: MBUU ) (" Malibu Boats " or the " Company "), a leading designer, manufacturer and marketer of performance sport boats, today announced that, subject to market and other conditions, it and certain selling stockholders (the " Selling Stockholders ") intend to offer 4,000,000 shares of its Class A Common Stock, consisting of 3,195,887 shares to be offered by the Company and 804,113 shares to be offered by the Selling Stockholders.
Malibu Boats and the Selling Stockholders have granted the underwriters an option for a period of 30 days to purchase up to an additional 478,894 shares and 121,106 shares, respectively, of Class A Common Stock to cover over-allotments. If exercised, all additional shares will be offered at the public offering price per share of Class A Common Stock in this offering.
The Company intends to use all of the net proceeds from this offering and the underwriters' over-allotment option, if exercised, to purchase units of Malibu Boats Holdings, LLC (the " LLC ") from the owners of membership interests in the LLC at a purchase price per unit equal to the public offering price per share of Class A Common Stock in this offering, after deducting underwriting discounts and commissions.
Raymond James and Wells Fargo Securities are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey and BMO Capital Markets are acting as co-managers.
A registration statement relating to offering of the Class A Common Stock has been filed by the Company with the Securities and Exchange Commission (the " SEC ") (as amended, the " Registration Statement "), but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This offering may only be made by means of a prospectus. A copy of the preliminary prospectus relating to the offering may be obtained by contacting: Raymond James, Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863 or via email at prospectus@raymondjames.com , or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, telephone: (800) 326-5897 or via email at cmclientsupport@wellsfargo.com .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Malibu Boats, Inc.
Malibu Boats is a leading designer, manufacturer and marketer of performance sport boats. The Company has two brands of performance sport boats, Malibu and Axis Wake Research (Axis). Since inception in 1982, the Company has been a consistent innovator in the powerboat industry, designing products that appeal to an expanding range of recreational boaters and water sports enthusiasts whose passion for boating and water sports is a key aspect of their lifestyle.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as "anticipate," "believe," "estimate," "expect," "may," "might," "will," "would," "could" or "intend." These forward-looking statements include, without limitation, statements related to the anticipated public offering of shares and statements regarding the Company's intentions regarding the use of the net proceeds from the offering. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company's filings with the Securities and Exchange Commission.
Malibu Boats, Inc. Wayne Wilson Chief Financial Officer (865) 458-5478 ICR John Rouleau/Rachel Schacter (203) 682-8200 Malibu Boats Pty Ltd. Jim Suidgeest Chief Financial Officer +61 260 401174
