TAMPA,
Fla., Oct. 5, 2023 /PRNewswire/ -- Lazydays
Holdings, Inc. (NasdaqCM: LAZY) (the "Company" or "Lazydays")
announced today that it has filed an amendment to the registration
statement on Form S-1 with the Securities and Exchange Commission
(the "SEC") relating to its previously announced rights offering.
As provided in the filing, the Company will raise up to
$100,000,000 gross proceeds from the
sale of Company's common stock, par value $0.0001 per share (the "Common Stock") pursuant
to the exercise of non-transferable rights (the "Rights") issued to
holders (the "Holders") of the Company's Common Stock, the
Company's pre-funded warrants (the "Warrants") and the Company's
series A convertible preferred stock (the "Series A Preferred
Stock") at a price to be determined at the time the offering
commences. All Holders as of a record date, which has yet to be
determined, will receive one Right for each share of Common Stock
owned or issuable upon exercise or conversion of Warrants and
Series A Preferred Stock owned as of such record date. The
subscription price has also yet to be determined. The Company will
provide notice of the record date and subscription price in the
future at such time as they are determined.
The proposed rights offering will include an over-subscription
right, which will entitle a Holder who exercises all of its basic
subscription rights in full the right to purchase additional shares
of Common Stock that remain unsubscribed at the expiration of the
rights offering, subject to the availability and pro rata
allocation of shares among persons exercising this
over-subscription right.
The Common Stock issued in connection with the rights offering
will be listed on The Nasdaq Capital Market under the symbol
"LAZY." The Rights will not be listed for trading.
As further described in the amended Form S-1 filing, the net
proceeds of the offering will be used for our growth initiatives
including acquisitions and new business development activities and
general corporate purposes, which may include repaying or
refinancing our existing or future debt facilities.
The Company reserves the right to modify, postpone or cancel the
rights offering at any time prior to the closing of the sale of the
Common Stock in the rights offering.
Questions about the rights offering or requests for a copy of
the prospectus may be directed to the Information Agent, Broadridge
Corporate Issuer Solutions, Inc., at 888-789-8409.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. The securities
may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This announcement
shall not constitute an offer to sell, or the solicitation of an
offer to buy the Rights or the underlying Common Stock, nor shall
there be any sale of these securities in any state in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state.
About Lazydays
Lazydays has been a prominent player in the RV industry since
its inception in 1976, earning a stellar reputation for delivering
exceptional RV sales, service, and ownership experiences. Its
commitment to excellence has led to enduring relationships with
RVers and their families, who rely on Lazydays for all their RV
needs. With a strategic approach to rapid expansion, Lazydays is
growing its network through both acquisitions and new builds. Its
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 are a seasoned RVer or just starting your
adventure, Lazydays' 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 "LAZY."
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
acquisitions 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 proposed 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; the Company's relationship
with, and the financial and operational stability of, vehicle
manufacturers and other suppliers; risks associated with the
Company's indebtedness (including available borrowing capacity,
compliance with financial covenants and ability to refinance or
repay indebtedness on favorable terms); acts of God or other
incidents which may adversely impact the Company's operations and
financial performance; government regulations; legislation; and the
factors discussed in "Part I, Item 1A. Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended
December 31, 2022 and from time to
time in the Company's other filings with the SEC.
News Contact:
+1 (813) 204-4099
investors@lazydays.com
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SOURCE Lazydays Holdings, Inc.