Lazydays Holdings, Inc.: debt financing — Lazydays amends credit agreements, secures $15M mortgage, issues 2M warrants at $5.25

Lazydays Holdings, Inc.

Interest rate increased; floor plan facility reduced from $525M to $480M; no revolving loans available during ratio adjustment period.
Mandatory repayments: $5M by June 10, $2.5M by Sep 30, $2.5M by Dec 31, 2024, with permanent commitment reductions.
Coliseum advanced $15M mortgage (total $50M) to fund required $5M credit repayment and general purposes.
Warrants for 2M shares at $5.25 per share issued to Coliseum Capital and Blackwell Partners, exercisable through May 15, 2034.
Series A Preferred Stock conversion price adjusted to $9.65 from $10.0625 due to warrant issuance.

item 1.01 item 2.03 item 3.02 item 3.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lazydays Holdings, Inc. incurred loan of $15.0 million with Coliseum Holdings I, LLC.

Instrument: loan
Principal: $15.0 million
Counterparty: Coliseum Holdings I, LLC
Event: incurrence

Exact text from the filing

Pursuant to the Loan Agreement Amendment, on May 15, 2024 the Mortgage Lender advanced an additional $15.0 million mortgage loan (the “Advance”), increasing the aggregate principal amount of the mortgage loan advanced under the Amended Loan Agreement from $35.0 million to $50.0 million (the “Loan”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Lazydays Holdings, Inc. amended credit facility of $480.0 million with Manufacturers and Traders Trust Company at Applicable Rate for SOFR Borrowings shall be 3.40%.

Instrument: credit facility
Principal: $480.0 million
Counterparty: Manufacturers and Traders Trust Company
Rate: Applicable Rate for SOFR Borrowings shall be 3.40%
Event: amendment

Exact text from the filing

Loans will be available to the Credit Agreement Borrowers. ● The lenders’ aggregate commitment in respect of the Floor Plan Line of Credit is reduced from $525.0 million to $480.0 million. ● The Ratio Adjustment Period will not end until the Borrower Representative delivers a Compliance Certificate for the Fiscal Quarter ending June 30, 2025 that demonstrates

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Source: SEC EDGAR

accession 0001493152-24-020334

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