Lazydays Rights Offering: Record Date Announced, Key Details Unveiled

Lazydays Holdings, Inc. (Nasdaq: LAZY), a prominent player in the RV industry, has announced the record date for its eagerly anticipated rights offering. The company, known for its stellar reputation in delivering exceptional RV sales, service, and ownership experiences, is set to raise up to $100 million in gross proceeds through this offering. Here's a closer look at the key details and what they mean for investors.

The record date for the rights offering has been set for October 23, 2023. Holders of Lazydays' common stock, pre-funded warrants, and series A convertible preferred stock as of this date will receive one non-transferable right (the "Rights") for every share owned or issuable upon exercise or conversion. Each Right entitles the holder to purchase 0.770 of a share of Lazydays' common stock at a cash subscription price equal to the lesser of $6.399 per share (the "Initial Price") or 90% of the volume-weighted average price (VWAP) of a share of the company's common stock for the five trading day period through and including November 14, 2023 (the "Alternate Price").

Assuming the rights offering is fully subscribed, Lazydays expects to receive aggregate gross proceeds of $100,000,000, before expenses. In addition, the company expects to issue in connection with the rights offering, in the aggregate, a maximum of 15,627,441 shares of its common stock. To the extent the Alternate Price is lower than the Initial Price, the maximum number of shares of the Common Stock issuable will be higher, subject to rounding.

Lazydays' strategic approach to expansion, coupled with its commitment to excellence, positions it well to capitalize on the growing demand for RV experiences. The company's wide selection of RV brands, state-of-the-art service facilities, and extensive range of accessories and parts ensure that it remains the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road.

The net proceeds of the offering are expected to be used for the company's growth initiatives, including acquisitions and new business development activities, as well as general corporate purposes, which may include repaying or refinancing the company's existing or future debt facilities. This strategic allocation of funds will enable Lazydays to continue its expansion and solidify its position in the RV industry.

In conclusion, the announcement of the record date for Lazydays' rights offering marks an important milestone in the company's growth trajectory. With a compelling subscription price mechanism and a clear vision for utilizing the raised capital, Lazydays is well-positioned to capitalize on the expanding RV market and create value for its shareholders. Investors should closely monitor the progress of this offering and consider the potential impact on Lazydays' growth trajectory and valuation.