Business
OneWater Marine Inc. Prices Initial Public Offering
BUFORD, Ga.--(BUSINESS WIRE)-- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater”) announced today the pricing of an initial public offering of 4,615,385 shares
About this update from Onewater Marine Inc.
[{"type":"text","content":" BUFORD, Ga.--(BUSINESS WIRE)--\nOneWater Marine Inc. (NASDAQ: ONEW) (“OneWater”) announced today the pricing of an initial public offering of 4,615,385 shares of its Class A common stock at $12.00 per share. The shares are expected to begin trading on the NASDAQ Global Market today under the ticker symbol “ONEW.” In addition, OneWater granted the underwriters a 30-day option to purchase up to an additional 692,308 shares of OneWater’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on February 11, 2020, subject to customary closing conditions.\n\n\nOneWater expects to receive approximately $47.3 million of net proceeds from the offering, or $55.0 million if the underwriters exercise their option to purchase additional shares in full. OneWater intends to contribute the net proceeds to its subsidiary, One Water Marine Holdings, LLC (“OneWater LLC”) in exchange for limited liability company units in OneWater LLC. OneWater LLC intends to use such net proceeds, together with cash on hand and borrowings under its credit facility, to redeem all outstanding preferred units in One Water Assets & Operations, LLC held by certain affiliates of Goldman Sachs & Co. LLC and The Beekman Group.\n\n\nRaymond James, Baird and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering.\n\n\nThe offering of these securities will be made only by means of a prospectus. A copy of the prospectus may be obtained from: \n\n\nRaymond James & Associates, Inc.\nAttention: Equity Syndicate\n880 Carillon Parkway\nSt. Petersburg, Florida 33716\nPhone: +1-800-248-8863\[email protected]\n\n\nRobert W. Baird & Co. Incorporated\nAttention: Syndicate Department\n777 E. Wisconsin Avenue\nMilwaukee, Wisconsin 53202\nPhone: +1-800-792-2473\[email protected] \n\n\nSunTrust Robinson Humphrey, Inc.\nAttention: Prospectus Department\n3333 Peachtree Road NE, 9th Floor\nAtlanta, Georgia 30326\nPhone: +1-404-926-5744\[email protected]\n\n\nAbout OneWater Marine Inc. \n\n\nOneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 63 stores throughout 11 different states, eight of which are in the top twenty states for marine retail expenditures. OneWater...