LAZYDAYS ANNOUNCES COMPREHENSIVE RECAPITALIZATION AND ASSET SALES RESULTING IN SIGNIFICANTLY STRENGTHENED BALANCE SHEET AND STREAMLINED OPERATIONAL FOOTPRINT

Core Viewpoint - Lazydays Holdings, Inc. has announced a series of transformative transactions aimed at strengthening its financial foundation, reducing debt, and enhancing profitability potential [1][3]. Transaction Highlights - The company plans to sell seven dealerships and issue common stock to Camping World for a total of $65.5 million, along with an additional dealership sale for$8 million [2][4]. - A $30 million common equity PIPE was closed at$1.03 per share, resulting in the issuance of 29.1 million new shares [2][5]. - A $25 million rights offering is planned at the same price per share as the PIPE, allowing existing stockholders to participate [2][6]. - All outstanding convertible preferred stock will be exchanged for common stock at$1.03 per share, eliminating a $68 million liquidation preference and a$9 million annual dividend requirement [2][7]. - The transactions will lead to a $65 million reduction in debt and a$16 million reduction in interest and preferred dividend payments [2][8]. Financial Position Post-Transactions - Following the transactions, Lazydays is expected to have $35 million in cash,$61 million in debt (excluding floor plan financings), and 119.5 million shares of common stock outstanding [2][8]. - The company has amended its credit facility with M&T Bank, providing significant financial flexibility through the first quarter of 2026 [2][8]. Leadership Commentary - The Chairman of Lazydays expressed confidence in the company's revitalization and the support received from investors and partners [3]. - The Interim CEO highlighted the challenging economic environment faced in recent years and the positive outlook for the company's future [3]. - The Chairman and CEO of Camping World emphasized the importance of Lazydays' health to the RV industry and its partners [3].