Malibu Boats announces pricing of public offering of 4,800,000 shares

Malibu Boats, Inc.
July 10, 2014
Filed under News

LOUDON, Tenn.,  – Malibu Boats, Inc., a leading designer, manufacturer and marketer of performance sport boats, today announced the pricing of the offering of 4,800,000 shares of its Class A Common Stock at a price to the public of $18.50 per share, which consists of 3,833,641 shares of Class A Common Stock sold by the Company and 966,359 shares of Class A Common Stock sold by certain selling stockholders (the “Selling Stockholders”). The offering is expected to close on or about July 15, 2014, subject to customary conditions.

Malibu Boats and the Selling Stockholders have granted the underwriters an option for a period of 30 days to purchase up to an additional 538,252 shares and 181,748 shares, respectively, of Class A Common Stock to cover over-allotments. If exercised, all additional shares will be offered at the public offering price per share of Class A Common Stock in this offering.

The net proceeds to the Company from this offering, after deducting underwriting discounts and commissions, will be approximately $67.4 million. The Company intends to use all of the net proceeds from this offering and the underwriters’ over-allotment option, if exercised, to purchase units of Malibu Boats Holdings, LLC (the “LLC”) from the owners of membership interests in the LLC at a purchase price per unit equal to the public offering price per share of Class A Common Stock in this offering, after deducting underwriting discounts and commissions.

Raymond James and Wells Fargo Securities are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey and BMO Capital Markets are acting as co-managers.

A registration statement relating to offering of the Class A Common Stock has been declared effective by the Securities and Exchange Commission (the “SEC”) (as amended, the “Registration Statement”). The offering is being made only by means of a prospectus forming part of the Registration Statement. A copy of the prospectus relating to the offering may be obtained by contacting: Raymond James, Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863 or via email at prospectus@raymondjames.com, or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, telephone: (800) 326-5897 or via email at cmclientsupport@wellsfargo.com.

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