MarineMax issues public offering of common stock

Posted on

MarineMax has begun a public offering of 2.6 million shares of its common stock pursuant to MarineMax’s effective shelf registration statement filed with the U.S. Securities and Exchange Commission.

Raymond James & Associates Inc. will serve as the sole underwriter for this offering.

The underwriter also will have the option to purchase up to an additional 390,000 shares of common stock from MarineMax at the public offering price, less underwriting discounts and commissions, within 30 days. The net proceeds of the offering will be used for general corporate purposes, which can include debt reduction.

As part of this offering, MarineMax requested from the lenders under its revolving credit facility additional flexibility to its debt covenants, since this offering also benefits its lenders. MarineMax’s lending group has agreed to amend MarineMax’s revolving credit facility.

The amended facility will provide a line of credit with asset-based borrowing availability up to $300 million, stepping down to $250 million by Sept. 30 and $175 million by Sept. 30, 2010, with interim decreases between such dates.

A copy of the prospectus supplement and accompanying prospectus can be obtained from Raymond James & Associates, Inc. at 880 Carillon Parkway, St. Petersburg, FL 33716 or phone at (800) 248-8863.

MarineMax operates 65 retail locations around the country.

Click here for the full release.


Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

What percentage of your revenue comes from millenial or Gen X customers?

View Results

Loading ... Loading ...

Search Boats for Sale


Login to Trade Only Today

Lost Password