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Malibu Boats, Inc. announces closing of public offering of 5,520,000 shares

Malibu Boats, Inc.
July 15, 2014
Filed under News

LOUDON, Tenn. – Malibu Boats, Inc. (Nasdaq:MBUU) (“Malibu Boats” or the “Company”), a leading designer, manufacturer and marketer of performance sport boats, today announced the closing of a previously announced offering of 5,520,000 shares of its Class A Common Stock at a price to the public of $18.50 per share, which consisted of 4,371,893 shares of Class A Common Stock sold by the Company and 1,148,107 shares of Class A Common Stock sold by certain selling stockholders (the “Selling Stockholders”). The number of shares of Class A Common Stock sold included an aggregate of 720,000 additional shares of Class A Common Stock, which consisted of 538,252 shares sold by the company and 181,748 shares sold by the Selling Stockholders. The additional shares were sold as a result of the full exercise by the underwriters of their option to purchase additional shares at the public offering price per share less the underwriting discount.

The net proceeds to the Company from the offering, after deducting underwriting discounts and commissions, was approximately $76.8 million. The Company intends to use all of the net proceeds from the offering and the underwriters’ over-allotment option 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 the offering, after deducting underwriting discounts and commissions.

Raymond James and Wells Fargo Securities acted as joint book-running managers for the offering. SunTrust Robinson Humphrey and BMO Capital Markets acted 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”). A copy of the registration statement can be obtained from the SEC’s website at www.sec.gov.

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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