Deal is expected to finance purchase of Malibu Boats Holdings units
By Devika Patel
Knoxville, Tenn., July 10 – Malibu Boats, Inc. said it priced a $70.92 million public sale of stock with a $9.96 million greenshoe. The deal was announced June 27 and will be conducted alongside a $17.88 million secondary sale with a $3.36 million greenshoe.
The company will sell 3,833,641 class A common shares at $18.50 per share. The price per share is a 3.75% discount to the July 9 closing share price of $19.22. Selling shareholders will sell an additional 966,359 shares at the same price.
Raymond James and Wells Fargo Securities are the joint bookrunners.
Settlement is expected July 15.
Proceeds will be used to purchase units of Malibu Boats Holdings, LLC.
The Loudon, Tenn., company makes and sells sport boats.
| Issuer: | Malibu Boats, Inc.
|
| Issue: | Class A common stock
|
| Amount: | $70,922,359
|
| Greenshoe: | $9,957,662
|
| Shares: | 3,833,641
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| Price: | $18.50
|
| Warrants: | No
|
| Bookrunners: | Raymond James and Wells Fargo Securities
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| Co-managers: | SunTrust Robinson Humphrey and BMO Capital Markets
|
| Announcement date: | June 27
|
| Pricing date: | July 10
|
| Settlement date: | July 15
|
| Stock symbol: | Nasdaq: MBUU
|
| Stock price: | $19.22 at close July 9
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