Lazydays Holdings, Inc. has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a rights offering in which holders of the company’s common stock, par value $0.0001 per share, the company’s pre-funded warrants and the company’s series A convertible preferred stock will receive non-transferable rights to purchase additional shares of Common 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.
The net proceeds of the offering will be used for company growth initiatives including acquisitions and new business development activities and general corporate purposes, which may include repaying or refinancing existing or future debt facilities.
