LAZYDAYS ANNOUNCES 1-FOR-30 REVERSE STOCK SPLIT
Lazydays Holdings (NASDAQ:GORV) has announced a 1-for-30 reverse stock split effective July 11, 2025, at 5:00 p.m. Eastern time. The company's stock will begin trading on an adjusted basis on July 14, 2025, under the same symbol "GORV" but with a new CUSIP number 52110H209.
The primary purpose of this reverse split is to increase the company's per share market price to regain compliance with Nasdaq's minimum bid price requirement. The split was approved by stockholders at the Annual Meeting on July 3, 2025. For every 30 shares held, stockholders will receive one new share, with fractional shares rounded up to the nearest whole number.
Continental Stock Transfer & Trust Company will serve as the exchange agent, with automatic adjustments for electronic holdings and specific instructions to be provided for certificate holders.Lazydays Holdings (NASDAQ:GORV) ha annunciato un raggruppamento azionario inverso 1-per-30 con effetto dal 11 luglio 2025 alle ore 17:00, ora Eastern. Le azioni della società inizieranno a essere negoziate su base rettificata dal 14 luglio 2025, mantenendo lo stesso simbolo "GORV" ma con un nuovo numero CUSIP 52110H209.
Lo scopo principale di questo raggruppamento è incrementare il prezzo di mercato per azione al fine di ristabilire la conformità con il requisito minimo di prezzo di offerta di Nasdaq. Il raggruppamento è stato approvato dagli azionisti durante l'Assemblea Annuale del 3 luglio 2025. Per ogni 30 azioni possedute, gli azionisti riceveranno una nuova azione, con le frazioni arrotondate per eccesso al numero intero più vicino.
La Continental Stock Transfer & Trust Company fungerà da agente per lo scambio, con adeguamenti automatici per le partecipazioni elettroniche e istruzioni specifiche fornite ai detentori di certificati.
Lazydays Holdings (NASDAQ:GORV) ha anunciado una consolidación inversa de acciones 1 por 30 que entrará en vigor el 11 de julio de 2025 a las 5:00 p.m., hora del Este. Las acciones de la compañÃa comenzarán a cotizar en base ajustada el 14 de julio de 2025, bajo el mismo sÃmbolo "GORV" pero con un nuevo número CUSIP 52110H209.
El propósito principal de esta consolidación es incrementar el precio por acción para cumplir nuevamente con el requisito mÃnimo de precio de oferta de Nasdaq. La consolidación fue aprobada por los accionistas en la Reunión Anual del 3 de julio de 2025. Por cada 30 acciones que posean, los accionistas recibirán una nueva acción, y las fracciones se redondearán al número entero más cercano hacia arriba.
Continental Stock Transfer & Trust Company actuará como agente de intercambio, con ajustes automáticos para las tenencias electrónicas y se proporcionarán instrucciones especÃficas para los tenedores de certificados.
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Lazydays Holdings (NASDAQ:GORV) a annoncé une fusion inversée d'actions au ratio de 1 pour 30 qui prendra effet le 11 juillet 2025 à 17h00, heure de l'Est. Les actions de la société commenceront à être négociées sur une base ajustée à partir du 14 juillet 2025, sous le même symbole "GORV" mais avec un nouveau numéro CUSIP 52110H209.
L'objectif principal de cette fusion inversée est d'augmenter le prix par action afin de retrouver la conformité avec l'exigence minimale de prix d'offre du Nasdaq. La fusion a été approuvée par les actionnaires lors de l'Assemblée Annuelle du 3 juillet 2025. Pour chaque 30 actions détenues, les actionnaires recevront une nouvelle action, les fractions d'actions étant arrondies à l'entier supérieur le plus proche.
La Continental Stock Transfer & Trust Company agira en tant qu'agent d'échange, avec des ajustements automatiques pour les avoirs électroniques et des instructions spécifiques seront fournies aux détenteurs de certificats.
Lazydays Holdings (NASDAQ:GORV) hat eine Aktienzusammenlegung im Verhältnis 1 zu 30 angekündigt, die am 11. Juli 2025 um 17:00 Uhr Eastern Time wirksam wird. Die Aktien des Unternehmens werden ab dem 14. Juli 2025 unter dem gleichen Symbol "GORV" gehandelt, jedoch mit einer neuen CUSIP-Nummer 52110H209.
Der Hauptzweck dieser Aktienzusammenlegung ist es, den Marktpreis pro Aktie zu erhöhen, um die Einhaltung der Mindestgebotspreis-Anforderung der Nasdaq wiederherzustellen. Die Zusammenlegung wurde von den Aktionären auf der Jahreshauptversammlung am 3. Juli 2025 genehmigt. Für jeweils 30 gehaltene Aktien erhalten die Aktionäre eine neue Aktie, wobei Bruchteile auf die nächsthöhere ganze Zahl aufgerundet werden.
Die Continental Stock Transfer & Trust Company wird als Umtauschstelle fungieren, mit automatischen Anpassungen für elektronische Bestände und speziellen Anweisungen für Inhaber von Zertifikaten.
- Potential to regain Nasdaq listing compliance through higher share price
- No loss of ownership percentage for stockholders (except minimal rounding adjustments)
- Automatic process requiring no action from most shareholders
- Indicates underlying financial challenges requiring stock price support
- May impact stock liquidity due to reduced number of outstanding shares
- Could signal lack of organic share price growth
Insights
Lazydays' 1-for-30 reverse split aims to regain Nasdaq compliance amid operational challenges requiring significant share price increase.
Lazydays Holdings' announcement of a 1-for-30 reverse stock split represents a significant corporate action primarily designed to boost the company's per-share market price to meet Nasdaq Capital Market's minimum bid price requirements for continued listing. This is an unusually steep consolidation ratio that will convert every 30 shares into just one share effective July 11, with adjusted trading beginning July 14, 2025.
The magnitude of this reverse split (1-for-30) is particularly noteworthy as it signals the depth of the share price decline the company has experienced. Typically, companies implement reverse splits at such extreme ratios only when share prices have fallen substantially below exchange requirements. The CEO's reference to an "operational turnaround plan" further contextualizes this move within broader financial challenges facing the company.
While the split mathematically adjusts the share price upward, it's important to understand that it doesn't change the fundamental value of shareholders' holdings (except for minor rounding adjustments). For example, if the pre-split share price was $0.10, the post-split price would theoretically adjust to approximately $3.00, but a shareholder's total investment value remains unchanged.
The company's explicit statement that this action is being taken to "seek to regain compliance" with Nasdaq requirements suggests Lazydays has likely received a deficiency notice and is at risk of delisting. This reverse split represents a technical solution to maintain market access rather than a reflection of operational improvements. Investors should view this action in the context of the company's stated need for an operational turnaround, as mentioned by CEO Ron Fleming.
At the Company's Annual Meeting of Stockholders held on July 3, 2025, the Company's stockholders approved a proposal to authorize a reverse stock split of the Common Stock by a ratio of at least 1-for-2 and up to 1-for-30, as determined by the Company's Board of Directors.
The Reverse Stock Split is primarily intended to increase the Company's per share market price of its Common Stock to seek to regain compliance with the minimum per share bid price requirement for continued listing on The Nasdaq Capital Market.
Ron Fleming, CEO of Lazydays, said, "This strategic initiative reflects our commitment to the long-term strength and stability of Lazydays. We are grateful for the continued support of our shareholders and remain focused on executing our operational turnaround plan."
As a result of the Reverse Stock Split, every 30 shares of the Common Stock will be automatically combined into one new share of Common Stock. No fractional shares will be issued in connection with the Reverse Stock Split. If the shares of Common Stock held by any holder of Common Stock immediately prior to the Reverse Stock Split are collectively reclassified pursuant to the Reverse Stock Split into a fractional number of shares of Common Stock, the Company will issue to such holder such fractions of a share of Common Stock as are necessary to round the number of shares of Common Stock held by such holder immediately following the Reverse Stock Split up to the nearest whole number of shares. The Reverse Stock Split will not alter stockholders' percentage ownership interest in the Company, except to the extent of any de minimis change due to rounding up as described above.
The Company's transfer agent, Continental Stock Transfer & Trust Company, will serve as the exchange agent for the Reverse Stock Split. Registered stockholders holding pre-reverse split shares of the Company's Common Stock electronically in book-entry form are not required to take any action to receive post-reverse split shares. Those stockholders who hold their shares in brokerage accounts or in "street name" will have their positions automatically adjusted to reflect the Reverse Stock Split, subject to each broker's particular processes, and will not be required to take any action in connection with the Reverse Stock Split. Any stockholder of record holding shares of the Company's Common Stock in certificate form will receive a transmittal letter from Continental Stock Transfer & Trust Company with instructions as soon as practicable after the Reverse Stock Split.
About Lazydays
Lazydays has been a prominent player in the RV industry since our inception in 1976, earning a stellar reputation for delivering exceptional RV sales, service, and ownership experiences. Our commitment to excellence has led to enduring relationships with RVers and their families who rely on us for all of their RV needs.
Our wide selection of RV brands from top manufacturers, state-of-the-art service facilities, and an extensive range of accessories and parts ensure that Lazydays is the go-to destination for RV enthusiasts seeking everything they need for their journeys on the road. Whether you're a seasoned RVer or just starting your adventure, our dedicated team is here to provide outstanding support and guidance, making your RV lifestyle truly extraordinary.
Lazydays is a publicly listed company on the Nasdaq stock exchange under the ticker "GORV."
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future financing transactions and business strategy, and often contain words such as "will," "prospect," "future," "project," "outlook," "expect," "anticipate," "intend," "plan," "believe," "estimate," "may," "seek," "would," "should," "likely," "goal," "strategy," "future," "maintain," "continue," "remain," or "target" and similar references to future periods. Examples of forward-looking statements in this press release include, among others, that the Reverse Stock Split will occur in the future and statements regarding the Company's ability to regain compliance with Nasdaq's listing standards.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events that depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future events (including the future closing of the Reverse Stock Split or the Company's ability to regain or thereafter maintain compliance with Nasdaq listing requirements). Actual future events and our results of operations, financial condition and liquidity and development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements in this press release. The risks and uncertainties that could cause actual events or results to differ materially from future events or estimated or projected results include, without limitation, future economic and financial conditions (both nationally and locally), changes in customer demand, our relationship with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks associated with our indebtedness (including our ability to obtain further waivers or amendments to credit agreements, the actions or inactions of our lenders, available borrowing capacity, our compliance with financial covenants and our ability to refinance or repay indebtedness on terms acceptable to us), acts of God or other incidents which may adversely impact our operations and financial performance, government regulations, legislation and others set forth throughout under the headers "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and in the notes to our financial statements in our most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and from time to time in our other filings with the
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