Lazydays (LAZY) Registration Filing summary

Company overview and business model

• Operates RV dealerships offering new and pre-owned vehicles, parts, accessories, financing, and insurance since 1976.

• Runs 23 dealerships in 14 states, with plans to sell seven locations and reduce to nine states.

• Claims to operate the world's largest RV dealership by on-site inventory, located near Tampa, Florida.

• Employs about 1,300 people and leverages centralized administrative functions for operational efficiency.

Financial performance and metrics

• Pro forma revenues for the nine months ended September 30, 2024, were $558.4 million, with a net loss of $69.98 million.

• Pro forma revenues for the year ended December 31, 2023, were $839.9 million, with a net loss of $146.3 million.

• Recent asset sales and preferred stock conversions significantly impacted the balance sheet and capital structure.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling securityholders.

• May receive up to $39 million if all warrants are exercised, to be used for working capital and general corporate purposes.

• Proceeds from recent asset and real estate sales used to repay debt and improve liquidity.