Off The Hook YS Inc. Announces Pricing of its Initial Public Offering

Rhea-AI Summary

Off The Hook YS (NYSE American: OTH) priced its initial public offering of 3,750,000 shares at $4.00 per share for gross proceeds of $15,000,000, with a 45-day underwriter option to purchase up to 562,500 additional shares. The common stock is expected to begin trading on November 13, 2025 and the offering to close on November 14, 2025, subject to customary conditions.

The company intends to use proceeds for working capital (to service its floorplan), advertising and marketing inventory, potential down payments to acquire and develop waterfront storage and service properties, and to repay a promissory note. ThinkEquity is sole book-running manager.

Positive

• Gross proceeds of $15.0M from IPO
• Listing set for Nov 13, 2025 on NYSE American
• Proceeds earmarked for working capital and inventory marketing
• Planned use includes down payments for waterfront property development

Negative

• Issuance of 3.75M shares will dilute existing equity
• Offering subject to underwriter overallotment of 562,500 shares
• Closing subject to customary conditions; not guaranteed on Nov 14

Insights

Capital Markets Analyst

Off The Hook priced a $15,000,000 IPO at $4.00 for 3,750,000 shares; trading expected Nov. 13, 2025.

Off The Hook YS Inc. will raise gross proceeds of $15,000,000 by selling 3,750,000 shares with an additional 45‑day option for 562,500 shares. The company states it will allocate proceeds to working capital (including servicing its floorplan), advertising and marketing inventory, potential down payments for waterfront properties to support storage and service centers, and to repay a promissory note. The structure is a standard small‑cap IPO with a common use‑of‑proceeds mix of liquidity, marketing spend, and targeted property investment.

The near‑term dependencies are concrete: completion of customary closing conditions for the expected close on Nov. 14, 2025, and any exercise of the 45‑day over‑allotment option which would increase proceeds. Key risks disclosed are limited: dilution from the offering and the timing/availability of funds tied to closing and over‑allotment exercise. There is no operational or financial detail beyond stated uses, so material execution risk on property acquisitions and marketing effectiveness remains unquantified.

Watch the actual closing on Nov. 14, 2025, the filing of the final prospectus on the SEC website, and whether the underwriters exercise the 45‑day option; these items determine final proceeds and near‑term liquidity. Expect firm confirmation of how much of the proceeds are allocated to the promissory note repayment versus capital projects within the 45‑day window.

North Carolina, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Off The Hook YS Inc. (“Off The Hook” and the “Company”) (NYSE American: OTH), a premier yacht and boat wholesaler specializing in the buying and selling of yachts and boats, today announced the pricing of its initial public offering of 3,750,000 shares of common stock at a public offering price of $4.00 per share, for gross proceeds of $15,000,000, before deducting underwriting discounts and offering expenses. In addition, Off The Hook has granted the underwriters a 45-day option to purchase up to an additional 562,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.

The Company intends to use the proceeds for working capital to service its floorplan, to advertise and market its inventory, for potential down payments to acquire and develop waterfront properties for storage and service centers, and to repay a promissory note.

The common stock of the Company is expected to begin trading on the NYSE American on November 13, 2025 under the symbol “OTH.” The offering is expected to close on November 14, 2025, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-288551) relating to the shares was filed with the Securities and Exchange Commission (“SEC”) and became effective on October 30, 2025. This offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Off The Hook YS Inc.
Off The Hook is a premier yacht and boat wholesaler specializing in the buying and selling of yachts and boats. Off The Hook combines advanced technology, proprietary AI-assisted valuation tools, and a data-driven sales platform to bring greater transparency and efficiency to yacht transactions. Over the past decade, Off The Hook has become a go-to wholesaler in the marine industry, earning numerous accolades, having been named one of the 500 fastest-growing companies in the United States by Inc. 500 for two consecutive years, and is consistently ranked as a Top 100 Dealer in the USA by Boating Industry magazine. Today, Off The Hook generates over $90 million in annual boat and yacht sales, operating across eight locations with a team of over 35 sales representatives who transact on more than 400 vessels each year. The Company’s success is built on a commitment to excellence, emphasizing the hiring of highly skilled professionals who embody integrity and a passion for the boating industry. By prioritizing relationship-building and ensuring client satisfaction, Off The Hook believes that it has established the Company as the go-to wholesaler in the industry.

Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.

Media Contact
Abigail Lafferty
abigail@pantelidespr.com
(561) 374-0513

FAQ

How many shares and at what price did Off The Hook (OTH) offer in the IPO on November 13, 2025?

Off The Hook offered 3,750,000 shares at $4.00 per share, totaling $15,000,000 gross.

When will Off The Hook (OTH) begin trading on NYSE American?

The common stock is expected to begin trading on November 13, 2025 under the symbol OTH.

What will Off The Hook (OTH) use IPO proceeds for?

Proceeds are planned for working capital to service its floorplan, inventory advertising and marketing, waterfront property down payments, and repaying a promissory note.

Does Off The Hook (OTH) have an over-allotment option in the IPO?

Yes; underwriters have a 45-day option to buy up to 562,500 additional shares to cover over-allotments.

Who is managing the Off The Hook (OTH) IPO and where is the prospectus filed?

ThinkEquity is sole book-running manager; the final prospectus will be filed with the SEC and available on sec.gov.