Lazydays’ common and preferred warrants, issued in conjunction with its March 2018 de-SPAC transaction, expired March 15 on the five-year anniversary of the event.
The RV dealership group said since Jan. 1, 2023, of the 4.3 million common share warrants outstanding, about 4 million were exercised and about 300,000 expired.
The common warrants were redeemable at one-half common share per warrant. Lazydays said about 675,000 preferred warrants were exercised at a ratio of one common share per warrant and about 50,000 expired.
The exercise price for all warrants was $11.50 per common share. At the close of trading March 14, Lazydays shares were at $11.90.
As a result of the warrant expiration, year to date, Lazydays issued about 2.7 million shares, receiving $30.5 million. Lazydays now has about 11.11 million shares outstanding.