Business
LAZYDAYS COMPLETES LIQUIDITY ENHANCING TRANSACTIONS
Lazydays Holdings, Inc. ("Lazydays" or the "Company") (NasdaqCM: GORV) today announced that it has executed amendments and waivers with its credit facility lender syndicate led by M&T Bank and its mortgage lender, an affiliate of Coliseum Capital Management, that will help to enhance the Company's liquidity position and further fortify its financial foundation.
About this update from M&t Bank Corporation
[{"type":"text","content":"Transactions to generate $14 million of liquidity and reduce non-floorplan indebtedness by $15 million","length":102,"tagName":"p","attribs":{}},{"type":"text","content":"Continues to focus on strengthening the balance sheet in support of long-term stability, improving operational performance of dealerships, and strategically divesting non-core assets","length":182,"tagName":"p","attribs":{}},{"type":"text","content":"TAMPA, Fla., June 17, 2025 /PRNewswire/ -- Lazydays Holdings, Inc. ("Lazydays" or the "Company") (NasdaqCM: GORV) today announced that it has executed amendments and waivers with its credit facility lender syndicate led by M&T Bank and its mortgage lender, an affiliate of Coliseum Capital Management, that will help to enhance the Company's liquidity position and further fortify its financial foundation.","length":439,"tagName":"p"},{"type":"image","alt":"Lazydays RV Logo (PRNewsfoto/Lazydays RV)","displaySize":"","headline":null,"caption":"Lazydays RV Logo (PRNewsfoto/Lazydays RV)","className":"","disableSlideshowImg":false,"size":{"original":{"width":321,"height":46,"url":"https://media.zenfs.com/en/prnewswire.com/30c27983b2502d6bb129542881aaf354"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_Vs19bS_gZ3gNnEKjCVZ5w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTkyO2NmPXdlYnA-/https://media.zenfs.com/en/prnewswire.com/30c27983b2502d6bb129542881aaf354","width":321,"height":46}},"href":"https://mma.prnewswire.com/media/2652243/Lazydays_RV_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Under the terms of the transactions, Lazydays will retain approximately $14 million of proceeds resulting from its divestures of certain non-core dealerships and associated real estate, and repay approximately $15 million in non-floorplan indebtedness, reducing non-floorplan indebtedness to approximately $44 million and meaningfully lowering interest expense.","length":361,"tagName":"p","attribs":{}},{"type":"text","content":"The contributing divestitures are as follows:","length":45,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Divestiture of dealership in Mesa, AZ, which closed on May 30, 2025;","length":68,"tagName":"p"}]},{"val":[{"type":"text","content":"Divestiture of dealership and related real estate in Fort Pierce, FL, which closed on June 6, 20...