Malibu Boats Inc. said that, subject to market and other conditions, the company intends to offer 2 million shares of its Class A common stock.
Malibu also said it intends to grant underwriters an option for a period of 30 days to purchase as many as an additional 300,000 shares of the 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, up to $50 million, to repay amounts outstanding on the term loans of Malibu Boats LLC, the company's wholly owned subsidiary, and use the remaining net proceeds, if any, for general working capital purposes.
Raymond James, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as joint book-running managers for the offering.