Lazydays Announces Cancellation of Rights Offering – RVBusiness – Breaking RV Industry News

TAMPA, Fla. — Lazydays Holdings Inc. (Nasdaq: LAZY) announced today that it has cancelled its previously announced rights offering of shares of the company’s common stock, par value $0.0001 per share (Common Stock) that had been made to holders (Holders) of the company’s Common Stock, pre-funded warrants and series A convertible preferred stock.

Given current industry conditions, as well as the decline in the Common Stock price from the date of the announcement, the Company has decided to cancel the rights offering. As a result, Lazydays will seek alternative sources of funding, including mortgage financing on owned real estate, while prioritizing optimizing the performance of its existing store base. Additionally, the Company will slow the cadence of certain acquisitions to better align with operational cash flows and to gather further data on market conditions.

“The Board is grateful for the work that is underway to improve the company’s operational and financial performance,” said Chris Shackelton, Chairman of the Board. “Furthermore, we strongly believe the leadership team is on track to create substantial shareholder value over the coming years.”

All affected offering rights exercised by Holders will expire without value and all subscription payments received from Holders that exercised offering rights will be returned by the Subscription Agent promptly, without interest or penalty.

About Lazydays

Lazydays has been a prominent player in the RV industry since its inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Its commitment to excellence has led to enduring relationships with RVers and their families, who rely on Lazydays for all their RV needs.

With a strategic approach to rapid expansion, Lazydays is growing its network through both acquisitions and new builds. Its wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you are a seasoned RVer or just starting your adventure, Lazydays’ dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.

Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker “LAZY.”