LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--
Camping World Holdings, Inc. (NYSE:CWH) (“Camping World” or the
“Company”) announced today the pricing of the previously announced
offering of shares of its Class A common stock (the “Class A Common
Stock”) at a public offering price of $27.75 per share, which includes
4,000,000 shares of Class A Common Stock offered by Camping World and
5,500,000 shares of Class A Common Stock offered by certain affiliates
of Crestview Advisors, L.L.C. (collectively, the “Selling Stockholders”)
pursuant to a registration statement filed on Form S-1 with the
Securities and Exchange Commission (the “SEC”). This represents an
overall decrease in the total offering size of 500,000 shares of Class A
Common Stock from the amount of shares of Class A Common Stock
previously announced, comprised of an increase of 500,000 shares of
Class A Common Stock offered by Camping World and a decrease of
1,000,000 shares of Class A Common Stock offered by the Selling
Stockholders. Additionally, the Company and the Selling Stockholders
have granted the underwriters a 30-day option to purchase up to an
aggregate of 1,425,000 additional shares of Class A Common Stock, which
includes 600,000 shares of Class A Common Stock offered by Camping World
and 825,000 shares of Class A Common Stock offered by the Selling
Stockholders. The proceeds of the primary portion of the offering will
be used by Camping World to purchase 4,000,000 common units (or
4,600,000 common units if the underwriters exercise their option in full
to purchase additional shares of Class A Common Stock) directly from
CWGS Enterprises, LLC (“CWGS, LLC”), at a price per unit equal to the
public offering price per share of Class A common stock in the offering,
less the underwriting discounts and commissions. CWGS, LLC intends to
use the net proceeds from the sale of common units to Camping World for
general corporate purposes, including the funding of the acquisition of
certain assets of Gander Mountain Company (“Gander Mountain”) and its
Overton’s, Inc. (“Overton’s”) boating business, including the related
re-opening and initial working capital needs of the Company’s current
goal to operate 70 or more retail locations and certain liabilities that
Camping World will assume in connection therewith (the “Gander Mountain
Acquisition”). The offering is not conditioned on the closing of the
Gander Mountain Acquisition and Camping World cannot assure you that the
Gander Mountain Acquisition will be completed on the terms described in
the registration statement related to the offering or at all. Camping
World will not receive any proceeds from the sale of the shares of Class
A Common Stock by the Selling Stockholders.
The closing of the offering is expected to occur on May 31, 2017,
subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC and J.P. Morgan are serving as joint lead
book-running managers and as representatives of the underwriters for the
offering. BofA Merrill Lynch and Credit Suisse are also acting as joint
book-running managers for the offering. Baird, BMO Capital Markets,
KeyBanc Capital Markets, Stephens Inc. and Wells Fargo Securities are
acting as co-managers for the offering.
The offering will be made only by means of a prospectus. A copy of the
final prospectus relating to the offering, when available, may be
obtained from any of the following sources:
-
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West
Street, New York, New York 10282, via telephone: 1-866-471-2526, or
via email: prospectus-ny@ny.email.gs.com;
or
-
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or via telephone:
1-866-803-9204.
A registration statement on Form S-1 relating to these securities has
been declared effective by the SEC. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Camping World Holdings, Inc.
Camping World Holdings, Inc. (NYSE: CWH) is the only provider of a
comprehensive portfolio of services, protection plans, products and
resources for recreational vehicle (“RV”) enthusiasts. Through its two
iconic brands, Camping World and Good Sam, the company offers new and
used RVs for sale, vehicle service and maintenance along with more than
10,000 products and services through its retail locations and membership
clubs. Good Sam branded offerings provide the industry’s broadest and
deepest range of services, protection plans, products and resources
while the Camping World brand operates the largest national network of
RV-centric retail locations in the United States through over 126 retail
locations in 36 states and an e-commerce platform. With both brands
founded in 1966, product and service offerings are based on 50 years of
experience and customer feedback from RV enthusiasts.
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Source: Camping World Holdings, Inc.