Lazydays Holdings (NASDAQ: GORV) expands credit default waiver window

Rhea-AI Filing Summary

Lazydays Holdings, Inc. entered into a First Amendment to a limited waiver and consent related to its existing floor plan Credit Agreement with Manufacturers and Traders Trust Company and other lenders. The original waiver temporarily covered specified defaults tied to missed vehicle curtailment payments due on or about August 1, 2025 and missed interest payments on July 31 and August 1, 2025, during a waiver period running from July 31, 2025 until September 12, 2025 or earlier if other conditions are breached. The amendment broadens this relief to include additional missed vehicle curtailment payments due on or about September 2, 2025 and missed interest payments on August 28 and September 2, 2025, and extends the deadline for the company to deliver either acceptable capital-raising indications of interest or draft debtor relief filings from August 22, 2025 to September 5, 2025. This structure gives Lazydays a short additional window to pursue asset sales or new financing or to prepare potential debtor relief actions under the constraints of its lenders.

Positive

• None.

Negative

• Lender waivers cover multiple missed payments, including vehicle curtailment and interest obligations through early September 2025, underscoring significant stress in servicing the floor plan Credit Agreement.
• Short timeline tied to capital raise or debtor relief, with a Specified Date of September 5, 2025 to present acceptable capital-raising indications or draft debtor relief filings, highlighting elevated restructuring risk.

Insights

Credit and restructuring analyst

Amended waiver highlights payment defaults and a tight restructuring timeline.

Lazydays Holdings, Inc. has obtained an amendment to its limited waiver under the existing floor plan Credit Agreement. The original waiver covered specified defaults from missed vehicle curtailment and interest payments around July 31–August 1, 2025, preserving access to its credit facility during a defined waiver period.

The amendment adds further missed obligations, including vehicle curtailment payments due on or about September 2, 2025 and interest payments on August 28 and September 2, 2025. It also moves the deadline for the company to either present acceptable capital-raising indications of interest or draft filings for potential actions under debtor relief laws to September 5, 2025, signaling active discussions with lenders about strategic alternatives.

The narrow extension and explicit reference to possible debtor relief actions indicate heightened financial stress and limited time to execute asset sales or raise new debt or equity. How Lazydays responds by the new Specified Date, and whether it can meet all waiver conditions through the waiver period ending on September 12, 2025, will be central to its financing outlook.

8-K Event Classification

2 items: 1.01, 9.01

2 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

false 0001721741 0001721741 2025-08-29 2025-08-29 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 29, 2025

LAZYDAYS HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-38424		82-4183498
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

4042 Park Oaks Blvd., Suite 350, Tampa, Florida		33610
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (813) 246-4999

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock		GORV		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

First Amendment to Limited Waiver and Consent with Respect to Credit Agreement

On August 29, 2025, Lazydays Holdings, Inc. (the “Company”) entered into a First Amendment to Limited Waiver and Consent (the “Waiver Amendment”), which amended that certain Limited Waiver and Consent with Respect to Credit Agreement dated and effective as of July 31, 2025 (the “Waiver”), delivered in connection with the Second Amended and Restated Credit Agreement dated as of February 21, 2023 (as amended from time to time, the “Credit Agreement”) with Manufacturers and Traders Trust Company, as Administrative Agent (the “Administrative Agent”), the lenders party thereto (the “Lenders”), the Company and certain subsidiaries of the Company party thereto as loan parties. The Credit Agreement provides the Company with a floor plan credit facility.

The Waiver, among other things, granted the Company temporary waivers of potential defaults or events of default that occurred or may have occurred under the Credit Agreement (collectively, the “Specified Defaults”), including, among other things, (a) the failure to make certain vehicle curtailment payments due on or about August 1, 2025 (the “Curtailment Waiver”) and (b) the failure to make certain interest payments on July 31 and August 1, 2025 (the “Interest Payment Waiver”). The waivers of the Specified Defaults apply for a period (the “Waiver Period”) beginning July 31, 2025 and lasting until the earlier to occur of (x) 11:59 P.M. (Eastern Time) on September 12, 2025 and (y) the failure of the Company or any other loan party to comply timely with any term, condition or covenant set forth in the Waiver or the occurrence of any other default or event of default under the Credit Agreement. At the end of the Waiver Period, the waivers of the Specified Defaults will cease to be of any force or effect.

Among other covenants, the Waiver required the Company to, by August 22, 2025 (the “Specified Date”), either (x) deliver one or more indications of interest with respect to a transaction acceptable to the Administrative Agent and the Lenders pursuant to which the Company will raise new capital through one or more asset sales and/or debt or equity capital raises or (y) deliver to the Administrative Agent drafts of any initial filings the Company intends to make in connection with any potential action under applicable debtor relief laws.

The Waiver Amendment amends the Waiver to (i) add to the Curtailment Waiver the failure to make certain vehicle curtailment payments due on or about September 2, 2025, (ii) add to the Interest Payment Waiver the failure to make certain interest payments on August 28 and September 2, 2025 and (iii) extend the Specified Date to September 5, 2025.

The foregoing description of the Waiver Amendment is qualified in its entirety by reference to the full text of such agreement, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
10.1		First Amendment to Limited Waiver and Consent, dated August 29, 2025, by and among LDRV Holdings Corp., the other loan parties party thereto, each of the lenders and Manufacturers and Traders Trust Company.
104		Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LAZYDAYS HOLDINGS, INC.
September 2, 2025	By:	/s/ Ronald K. Fleming
Date		Ronald K. Fleming
		Chief Executive Officer

FAQ

What did Lazydays Holdings, Inc. (GORV) announce in this 8-K?

Lazydays Holdings, Inc. disclosed a First Amendment to a Limited Waiver and Consent under its Second Amended and Restated Credit Agreement. The amendment expands temporary waivers of specified defaults and extends the deadline for the company to deliver capital-raising indications of interest or draft debtor relief filings.

Which payment defaults are covered by Lazydays Holdings, Inc.'s amended waiver?

The waiver now covers failures to make certain vehicle curtailment payments due on or about August 1 and September 2, 2025, and failures to make certain interest payments on July 31, August 1, August 28, and September 2, 2025, under the existing Credit Agreement.

How long does Lazydays Holdings, Inc.'s waiver period under the Credit Agreement last?

The waiver period began on July 31, 2025 and lasts until the earlier of 11:59 p.m. Eastern Time on September 12, 2025 or the occurrence of a failure to comply with the waiver terms or any other default or event of default under the Credit Agreement.

What is the new Specified Date for Lazydays Holdings, Inc. to take action under the waiver?

The First Amendment extends the Specified Date to September 5, 2025. By that date, the company must either deliver acceptable indications of interest for capital-raising transactions through asset sales or debt or equity issuances, or provide drafts of initial filings for potential actions under applicable debtor relief laws.

Who are Lazydays Holdings, Inc.'s counterparties in the amended waiver?

The counterparties include Manufacturers and Traders Trust Company as Administrative Agent, the lenders party to the Credit Agreement, and certain subsidiaries of Lazydays Holdings, Inc. that are loan parties, as well as LDRV Holdings Corp. referenced in the attached exhibit.

What type of credit facility is covered by Lazydays Holdings, Inc.'s Credit Agreement?

The Credit Agreement provides Lazydays Holdings, Inc. with a floor plan credit facility, which is used to finance inventory such as vehicles, and the limited waiver and its amendment relate to this facility.