Marine Products Corporation filings document material-event reporting for a NYSE-listed manufacturer of fiberglass powerboats sold under the Chaparral and Robalo brands. Recent 8-K disclosures cover operating and financial results, regular cash dividend declarations, common-stock information, and board governance matters, including director and committee-related updates.
The company’s proxy-related and transaction communications address shareholder voting matters, material agreements, capital-structure disclosure and risk factors. These filings frame MPX as an operating company in the powerboat manufacturing business, with disclosures tied to brand operations, public-company governance and stockholder actions.
Marine Products Group, LLC, as successor to Marine Products Corporation, reports completion of its previously announced merger with MasterCraft Boat Holdings, Inc. Marine Products first merged into a MasterCraft subsidiary and then into Titan Merger Sub 2, LLC, which was renamed Marine Products Group, LLC and became a wholly owned MasterCraft subsidiary.
At the first effective time, each share of Marine Products common stock converted into the right to receive 0.232 shares of MasterCraft common stock plus $2.43 in cash, except specified excluded shares and assumed restricted stock awards. Cash was paid instead of fractional MasterCraft shares based on a $25.27 closing VWAP. Certain equity awards vested or converted into MasterCraft restricted stock with similar vesting terms.
Marine Products common stock ceased trading on the NYSE before the open on May 15, 2026, and the company has requested NYSE file Form 25 to delist and deregister the shares. Following the merger, Marine Products is under MasterCraft’s control, its former directors and key officers resigned, and MasterCraft expanded its board to add three former Marine Products directors under a stockholders’ agreement that also grants specified holders ongoing board nomination rights tied to their voting power.
Marine Products Corp filed a Form 25 notifying the New York Stock Exchange LLC of the removal/withdrawal of its Common Stock from listing and registration. The Exchange states it complied with 17 CFR 240.12d2-2(b) and the issuer complied with 17 CFR 240.12d2-2(c) governing voluntary withdrawal.
The notice is certified on behalf of the Exchange and signed by Anthony Sozzi, Analyst, Market Watch. Contact details for the issuer list an Atlanta address and telephone number.
Marine Products Corporation reports that its stockholders approved the pending merger with MasterCraft Boat Holdings at a special meeting. As of the March 30, 2026 record date, 35,234,398 common shares were outstanding, and 30,817,468 shares were represented, constituting a quorum. The Merger Agreement proposal received 30,470,005 votes for, 331,629 against and 15,834 abstentions, and related compensation and adjournment proposals also passed. The Hart-Scott-Rodino Act waiting period expired on April 6, 2026, satisfying a key regulatory condition. Subject to remaining closing conditions, the two-step merger is expected to close on or about May 15, 2026, after which Marine Products will become an indirect wholly owned subsidiary of MasterCraft.
Marine Products Corporation reported higher sales but a quarterly loss as it moves toward a planned merger with MasterCraft. Net sales for the three months ended March 31, 2026 rose 12.8% to $66.5 million, driven mainly by a 15% increase in price/mix while unit boat sales slipped 1%.
The company recorded a net loss of $2.1 million, or $0.06 per diluted share, compared with net income of $2.2 million, or $0.06 per share, a year earlier. Results were significantly impacted by $5.0 million in merger-related costs, which turned operating income of $2.6 million in the prior-year period into an operating loss of $2.7 million. Adjusted EBITDA, which excludes these merger expenses, was $3.0 million versus $3.4 million a year ago.
Marine Products ended the quarter with $45.8 million in cash and cash equivalents and no borrowings under its $20.0 million revolving credit facility, while generating $9.1 million in operating cash flow. The company continues to pay a quarterly dividend of $0.14 per share, with a new dividend declared for payment in May 2026.
Under the February 2026 merger agreement, each Marine Products share will be converted at closing into 0.232 shares of MasterCraft common stock plus $2.43 in cash, subject to shareholder approvals and other customary conditions. The company also notes new risk disclosures around elevated fuel prices and geopolitical tensions affecting boating demand and input costs.
Marine Products Corporation reported first quarter 2026 results showing higher sales but a GAAP loss as it advances its planned merger with MasterCraft.
Net sales rose 13% year-over-year to $66.5 million, driven by a 15% price/mix increase, while boat unit volumes slipped 1%. Gross profit was $11.1 million, but gross margin declined to 16.6% due to higher labor and overhead costs. Selling, general and administrative expenses increased to $8.8 million and merger related costs were $5.0 million.
The company posted a net loss of $2.1 million, or $(0.06) per diluted share, compared with net income of $2.2 million and $0.06 per share a year earlier. Adjusted diluted earnings per share, excluding merger related costs, were $0.05. (LBITDA) EBITDA was a loss of $1.9 million, while Adjusted EBITDA was $3.0 million.
Marine Products ended the quarter with $45.8 million in cash and cash equivalents, generated $9.1 million of net cash from operating activities and free cash flow of $8.6 million. Year-to-date dividend payments totaled $4.9 million, and the board declared a quarterly dividend of $0.14 per share payable on May 14, 2026.
The company highlighted its previously announced Agreement and Plan of Merger with MasterCraft Boat Holdings. The Hart-Scott-Rodino waiting period expired on April 6, 2026, shareholder votes are scheduled for May 12, 2026, and the transaction is expected to close in the second calendar quarter of 2026, subject to customary conditions.