Just two days after Lazydays announced that it would offer 4 million shares of its common stock for sale in anunderwritten public offering, the company Friday announced it was withdrawing that proposed share offering.
“The proposed offering price did not reflect what we believe is the underlying value of the company,” said William Murnane, chairman and CEO. “We have a very strong balance sheet and are willing to raise capital only if it is in the best interests of our shareholders. We are very excited about the future of the company and we are committed to driving significant shareholder value in the coming years. Management and the board are steadfast in our effort to deliver disciplined and accretive capital stewardship.”
According to one report, Lazydays’ stock was valued at $15.90 per share in pre-market trading Friday.