Lazydays R.V. Center Inc. and Andina Acquisition Corp. II today (March 15) announced the closing of their previously announced business combination for Adina to acquire the Tampa area dealership from private investment funds managed by Wayzata Investment Partners LLC and other minority shareholders. According to a press release, the acquisition was approved at Andina’s general meeting of shareholders held earlier today (March 15).
The combined company was renamed Lazydays Holdings Inc. and it is anticipated that on or about March 16 common stock will commence trading on the Nasdaq Capital Market under the ticker symbol “LAZY.”
William P. Murnane, chairman and CEO of Lazydays, stated, “Our vision has been to become a public company so we would have access to the capital markets in order to accelerate our geographic expansion strategy. The Lazydays brand and model is well positioned to support a national network of RV dealerships and service centers. We believe that over time we can generate above-market growth in the highly fragmented RV dealership market. The financings associated with this transaction will give us the balance sheet flexibility and liquidity to support our growth strategy and bring our exceptional customer experience and product expertise closer to our loyal customers throughout the country.”
Luke Weil, founder of Andina, noted, “We are extremely excited to join forces with Lazydays RV,” stated . “We believe the public listing and additional capital raised through this transaction will accelerate Lazydays’ growth initiatives and help to deliver long-term value for shareholders.”
Craig-Hallum Capital Group acted as exclusive placement agent for the private placement transactions and Craig-Hallum Capital Group and EarlyBirdCapital, Inc. acted as M&A Advisors to Andina. Graubard Miller, and Maples and Calder acted as legal counsel to Andina. Stroock & Stroock & Lavan LLP acted as legal counsel to Lazydays.