Lazydays Backs Shareholder Private Placement with Paul Hastings
Deal News | Nov 15, 2024 | Paul Hastings
Paul Hastings LLP provided legal advice to certain shareholders of Lazydays Holdings, Inc., a significant player in the recreational vehicles (RV) industry, during a private placement of 29,126,214 shares of common stock. This transaction was priced at $1.03 per share, leading to a total transaction value of approximately $30 million. The placement included a related registered rights offering and involved exchanging all outstanding convertible preferred stock for common stock at the same price. The firm's legal team was led by Partner David Ambler and Of Counsel Gil Savir, with assistance from other attorneys including Associate Max Roberts. The strategic move aligns with Lazydays's aim to streamline its equity structure by converting preferred stock into common stock. Established in 1976, Lazydays has established a reputable position within the RV industry by offering exceptional sales, service, and customer experience, fostering long-term relationships with customers.
Sectors
- Legal Services
- Recreational Vehicle Industry
- Finance
Geography
- United States – Lazydays Holdings, Inc., and Paul Hastings LLP, both operate within the United States, where this transaction is taking place.
Industry
- Legal Services – Paul Hastings LLP, a legal advisory firm, played a central role in advising the shareholders during the stock transaction.
- Recreational Vehicle Industry – Lazydays Holdings, Inc., a major participant in the RV industry, is the company undergoing the stock transaction to strengthen its position in the market.
- Finance – The article discusses a significant financial transaction involving common stock and convertible preferred stock placement.
Financials
- $1.03 per share – The price per share for the private placement and exchange of convertible preferred stock.
- 29,126,214 shares – The number of common stock shares involved in the private placement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lazydays Holdings, Inc. | Target Company | Company | A key player in the RV industry, Lazydays is undergoing a private placement of common stock. |
| Paul Hastings LLP | Legal Advisor | Company | Provided legal advisory services to Lazydays shareholders in the transaction. |
| David Ambler | Partner at Paul Hastings | Person | Led the legal team on the transaction. |
| Gil Savir | Of Counsel at Paul Hastings | Person | Assisted in leading the legal advisory team. |