Financing in Place, Pending Review
Equity and Debt Support Secured
The Donerail Group stated it has obtained “highly confident” equity and debt support letters from alternative investment firms. The financing would fund the proposed acquisition and refinance MarineMax’s existing indebtedness, excluding floor plan financing.
MarineMax, which trades on the New York Stock Exchange, operates as a recreational boat and yacht retailer, marina operator and superyacht services provider. The company maintains more than 120 locations globally, including 70 dealerships and over 65 marina storage facilities, according to a separate statement issued Tuesday.
The company confirmed receipt of the takeover proposal and said its board of directors will evaluate the offer.
“MarineMax’s board of directors remains focused on creating value for shareholders and other stakeholders,” the company said. “Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisers, the board will carefully review and evaluate the indication of interest and determine the course of action the board believes is in the best interests of MarineMax and its shareholders and other stakeholders.”
