Sale by Wayzata Investment affiliates has greenshoe of 600,000 shares
By Devika Patel
Knoxville, Tenn., Sept. 15 – MCBC Holdings, Inc. said on Wednesday that it priced a $41 million secondary sale of stock with a $6.15 million greenshoe. The deal is being conducted by affiliates of Wayzata Investment Partners and was announced Monday.
The selling stockholders will sell 4 million common shares at $10.25 apiece. The price per share is a 6.56% discount to the Sept. 13 closing share price of $10.97.
Robert W. Baird & Co. Inc. and Wells Fargo Securities LLC are the bookrunners.
Settlement is expected Sept. 20.
The company will not receive any proceeds from the secondary sale.
The Vonore, Tenn., company makes sport boats.
Issuer: | MCBC Holdings, Inc.
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Issue: | Common shares
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Amount: | $41 million
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Greenshoe: | $6.15 million, or 600,000 shares
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Shares: | 4 million
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Price: | $10.25
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Warrants: | No
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Bookrunners: | Robert W. Baird & Co. Inc. and Wells Fargo Securities LLC
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Co-managers: | KeyBanc Capital Markets Inc. and B. Riley
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Announcement date: | Sept. 12
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Pricing date: | Sept. 14
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Settlement date: | Sept. 20
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Stock symbol: | Nasdaq: MCFT
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Stock price: | $10.97 at close Sept. 13
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Market capitalization: | $185.76 million
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