Raymond James, Wells Fargo, SunTrust Robinson Humphrey help with sale
By Devika Patel
Knoxville, Tenn., May 27 – Malibu Boats, Inc. said the underwriters for its secondary offering of stock opted to exercise the deal’s $10.43 million greenshoe in full, lifting total proceeds of the offering to $79.93 million. The deal was announced May 18 and priced for $69.5 million with the greenshoe on May 20.
The selling shareholders sold 3,996,255 common shares at $20.00 apiece. The price per share reflects a 3.71% discount to the May 19 closing share price of $20.77. Of the shares, 521,250 were part of the fully exercised greenshoe.
J. Raymond James, Wells Fargo Securities and SunTrust Robinson Humphrey are the bookrunners.
Settlement is expected May 27.
The company will not receive any proceeds from the secondary sale.
Malibu Boats is a Loudon, Tenn.-based designer, manufacturer and marketer of performance sport boats.
| Issuer: | Malibu Boats, Inc.
|
| Issue: | Common stock
|
| Amount: | $79,925,100, including $10,425,000 greenshoe of 521,250 shares
|
| Shares: | 3,996,255
|
| Price: | $20.00
|
| Warrants: | No
|
| Bookrunners: | Raymond James, Wells Fargo Securities and SunTrust Robinson Humphrey
|
| Co-manager: | B. Riley & Co.
|
| Announcement date: | May 18
|
| Pricing date: | May 20
|
| Settlement date: | May 27
|
| Stock symbol: | Nasdaq: MBUU
|
| Stock price: | $20.77 at close May 19
|
| Market capitalization: | $312.6 million
|
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