other_material
confidence high
sentiment negative
materiality 0.75
Lazydays divests non-core dealerships, gains $14M liquidity, repays $15M debt
Lazydays Holdings, Inc.
- Divested dealerships in Mesa AZ, Fort Pierce FL, Longmont CO; Las Vegas NV closing soon.
- Retains $14M in proceeds; repays $15M non-floorplan debt, leaving ~$44M non-floorplan debt.
- Received waivers from M&T Bank and Coliseum Capital for multiple defaults including missed payments and liquidity covenant.
- Amendment waives three $2.5M amortization payments in 2025; requires mandatory prepayment if floor plan not reduced.
- Floor plan facility floor set at $245M; company must sell land in Aurora, Las Vegas, Waller by deadline.
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