Lazydays Hldgs Inc Stock Price, News & Analysis

Lazydays Holdings (GORV) has signed a letter of intent to sell three store locations to General RV Center. The stores, located in Ft. Pierce (Florida), Longmont (Colorado), and Mesa (Arizona), are expected to be divested within 75 days under a nonbinding agreement with an exclusivity provision.

The strategic divestiture aims to streamline Lazydays' operational footprint and is expected to generate significant cash for the balance sheet while reducing indebtedness and geographical redundancy. For General RV, this acquisition expands their presence into Arizona and Colorado markets, building upon their existing operations in Utah and Florida, where they currently operate seven dealerships.

Lazydays Holdings (NASDAQ: GORV) has scheduled the release of its fourth quarter and fiscal year 2024 financial results, to be announced before market opening on March 31, 2025. The company will host a conference call to discuss the results on the same day at 8:30 a.m. Eastern Time. Investors can participate via telephone at 877-407-8029 (domestic) or +1 201-689-8029 (international), with live and replay access available through the company's investor relations website.

Lazydays Holdings (NASDAQ: GORV) has announced the completion of its rights offering on February 12, 2025. The company issued a total of 35,882 shares of common stock at $1.03 per share, consisting of 34,334 shares through basic subscription rights and 1,548 shares via over-subscription privilege. The offering generated gross proceeds of approximately $36,958.46.

The company plans to utilize the proceeds for working capital and general corporate purposes, including debt repayment. All over-subscription privilege requests were fulfilled in full due to sufficient share availability. The rights offering was conducted under the company's Form S-1 registration statement, which received SEC approval on January 13, 2025. Rights not exercised by February 5, 2025, expired and became void.

Lazydays Holdings (NASDAQ: GORV) announced the effectiveness of its registration statement for a rights offering, declared by the SEC on January 13, 2025. The company will distribute non-transferable rights to eligible holders of common stock and warrants, allowing them to purchase 1.27 shares of common stock at $1.03 per share.

The rights offering includes both basic subscription rights and over-subscription rights, with the latter available to holders who fully exercise their basic rights. If fully subscribed, the company expects to raise approximately $23.6 million in net proceeds and issue 24,271,844 shares of common stock. The proceeds will be used for working capital, general corporate purposes, and debt repayment.

The subscription period ends on February 5, 2025, unless extended. The new shares will trade on Nasdaq under symbol GORV, while the rights will not be listed on any exchange.

Lazydays Holdings (NASDAQ: GORV) has appointed Jeff Needles as Chief Financial Officer, effective January 6, 2025. Needles, previously CFO at Warbird Marine Holdings, succeeds Interim CFO Jeff Huddleston, who will continue temporarily in a consulting role to assist with the transition.

Needles brings over 20 years of financial management experience, with expertise in financial planning, cost analysis, and operational efficiency. He has held CFO positions at United Enertech Holdings and Schnellecke Logistics USA, along with financial leadership roles at Mastercraft Boat Company and Harley Davidson Motor Company. He is a Certified Public Accountant with an MBA from Washington University and a Bachelor's degree from Saint Louis University.

The appointment comes as Lazydays has completed several financing transactions and announced transformational actions for future growth. Needles will oversee financial operations, including finance, accounting, treasury, SEC reporting, and financial planning and analysis, reporting to Interim CEO Ron Fleming.

Lazydays Holdings (NASDAQ: GORV) has announced terms for its previously announced rights offering, setting January 13, 2025, as the record date. Eligible stockholders and warrant holders will receive one non-transferable right for each share owned, allowing them to purchase 1.27 shares of common stock at $1.03 per share.

The rights offering includes both basic subscription rights and over-subscription rights, with the latter available if some holders don't exercise their basic rights. The company expects to raise $25 million in gross proceeds and issue approximately 24.27 million shares of common stock if fully subscribed. The rights will expire on February 5, 2025, at 5:00 p.m. ET.

Proceeds will be used for working capital, general corporate purposes, and debt repayment. The new shares will trade on Nasdaq under 'GORV', while the rights themselves won't be listed or transferable.

Lazydays Holdings (Nasdaq: GORV) reported challenging Q3 2024 results with total revenue declining to $213.5 million from $280.7 million in Q3 2023. The company posted a net loss of $17.7 million ($1.37 per diluted share) compared to a $5.6 million loss in Q3 2023. For the nine months ended September 30, 2024, revenue decreased to $722.7 million from $884.7 million, with a net loss of $83.9 million. The company recently completed recapitalization transactions to strengthen its financial foundation, streamline its balance sheet, and enhance liquidity.

Lazydays Holdings (NasdaqCM: GORV) has scheduled its third-quarter fiscal year 2024 earnings release for Monday, November 18, 2024, after market close. The company will simultaneously file its SEC Form 10-Q. A conference call to discuss results and the recently announced comprehensive recapitalization and strategic asset sales is scheduled for Tuesday, November 19, 2024, at 8:30 a.m. Eastern Time. The call will be accessible via phone (877-407-8029 / +1 201-689-8029) and webcast, with a replay available on the company's investor relations website.

Lazydays Holdings (GORV) announced transformative transactions to strengthen its financial position, including the sale of eight dealerships and a comprehensive recapitalization plan. The company will sell seven dealerships and issue common stock to Camping World for $65.5 million, plus one dealership to another buyer for $8 million. The plan includes a $30 million common equity PIPE at $1.03 per share, a planned $25 million rights offering, and conversion of all preferred stock to common stock. These transactions will reduce debt by $65 million, eliminate $68 million in preferred stock obligations, and cut $16 million in interest and dividend payments. Post-transactions, Lazydays expects to have $35 million in cash and $61 million in debt, with 119.5 million shares outstanding.