Malibu Boats Inc. has announced the pricing of the follow-on offering of 2 million shares of the company's Class A common stock at a price to the public of $25.25 a share.
The offering is expected to close on or about Aug. 14.
The company has granted the underwriters an option for a period of 30 days to purchase as much as an additional 300,000 shares of the company's Class A common stock.
If exercised, all additional shares will be offered at the public offering price per share of Class A common stock in the offering.
The company said it intends to use all of the net proceeds from the offering to repay amounts outstanding on the term loans of Malibu Boats LLC, the company's wholly owned subsidiary.
Raymond James, SunTrust Robinson Humphrey and Wells Fargo Securities acted as joint book-running managers for the offering.