Malibu Boats, Inc. Announces Pricing of Secondary Public Offering of 3,475,005

[footndale]

http://www.marketwatch.com/story/malibu-boats-inc-announces-pricing-of-secondary-public-offering-of-3475005-shares-by-selling-stockholders-2015-05-20

LOUDON, Tenn., May 20, 2015 (GLOBE NEWSWIRE via COMTEX) --

Malibu Boats, Inc. MBUU, +0.48% ("Malibu Boats" or the "Company"), a leading designer, manufacturer and marketer of performance sport boats, today announced the pricing of the secondary offering of 3,475,005 shares of the Company's Class A Common Stock by certain selling stockholders ()Selling Stockholders") at a price to the public of $20.00 per share. The offering is expected to close on or about May 27, 2015, subject to customary conditions.

Edited May 21, 2015 by footndale

[oldjeep]

Time for the venture guys to get their money back out and move on to the next project I guess.

[Sride]

Time for the venture guys to get their money back out and move on to the next project I guess.

Was thinking the same thing. $60MM in additional capital....sheesh. I don't even think Nautique spent $10M on factory upgrade plans.

From Q: "Represents legal and advisory fees related to our litigation with Pacific Coast Marine Windshield Ltd., or "PCMW", and Nautique Boat Company, offset by the portion of the $2.3 million settlement received from Nautique for past infringement claims under the Nautique Settlement Agreement entered into on February 6, 2015."

Only a 2.3MM IP settlement? Talk about getting punched in the face.

Edited May 21, 2015 by Sride

[MTT77]

Time for the venture guys to get their money back out and move on to the next project I guess.

Yup, assuming they exercised the green shoe, this completely cleans up the private equity guys. No more secondary offerings coming down the pipe.

[IXFE]

Yeah, didn't Bu pay $20m on the windshield settlement? Then they turn around and accept $2.3M on the Surf Gate settlement?

Sounds like it's time for a new legal team.

[wakebrdr94]

Yeah, didn't Bu pay $20m on the windshield settlement? Then they turn around and accept $2.3M on the Surf Gate settlement?

Sounds like it's time for a new legal team.

I would think that in settlement with royalties on all future sales. Probably opened the door to go after the other guys for royalties as well.

Just guessing though