Lazydays Holdings, Inc. Announces Stock Repurchase Program for up to $4.0 Million
Tampa, FL (November 7, 2019) – Lazydays Holdings, Inc. (“Lazydays” or the “Company”) (NasdaqCM: LAZY) announced that its Board of Directors authorized the repurchase of up to $4.0 million of the Company’s common stock. Repurchases may be made at management’s discretion from time to time on the open market, though privately negotiated transactions, or pursuant to a trading plan. Repurchases may be made through December 31, 2020 or may be discontinued at any time.
“Based on the confidence we have in our growth strategy, the Board of Directors and management team believe that the Company’s shares are an attractive investment opportunity”, stated Mr. William Murnane, Chairman and Chief Executive Officer. “Our strong cash and working capital position enable us to return value to shareholders through share repurchases, while at the same time maintaining sufficient capital to support our long-term growth strategy.”
ABOUT LAZYDAYS RV
Lazydays, The RV Authority®, is an iconic brand in the RV industry. Home of the world’s largest recreational dealership, based on 126 acres outside of Tampa, Florida, Lazydays also has dealerships located at The Villages, Florida; Tucson, Arizona; Minneapolis, Minnesota; Knoxville, Tennessee; and Loveland and Denver, Colorado. Offering the nation’s largest selection of leading RV brands, Lazydays features nearly 3,000 new and pre-owned RVs, more than 400 service bays and two on-site campgrounds with over 700 RV campsites. Lazydays RV Accessories & More™ stores offer thousands of accessories and hard-to-find parts at dealership locations. In addition, Lazydays also has rental fleets in Colorado.
Since 1976, Lazydays has built a reputation for providing an outstanding customer experience with exceptional service and product expertise, along with being a preferred place to rest and recharge with other RVers. Lazydays consistently provides the best RV purchase, service, rental and ownership experience, which is why more than a half-million RVers and their families visit Lazydays every year, making it their “home away from home.”
Lazydays Holdings, Inc. is a publicly listed company on the Nasdaq stock exchange under the ticker symbol “LAZY.” Additional information can be found here.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements describe Lazydays’ future plans, projections, strategies and expectations, including statements regarding Lazydays’ expectations for its growth strategy and stock repurchase program, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Lazydays. Actual results could differ materially from those projected due to various factors, including economic conditions generally, conditions in the credit markets and changes in interest rates, conditions in the capital markets, Lazydays’ ability to implement its announced stock repurchase program, the timing and amount of any future stock repurchases and the possibility that the repurchase program may be suspended or discontinued, and other factors described from time to time in Lazydays’ Securities and Exchange Commission reports and filings, which are available at www.sec.gov. Forward-looking statements contained in this news release speak only as of the date of this news release, and Lazydays undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances, unless otherwise required by law.