MCBC Holdings,Inc. (NASDAQ:MCFT) Files An 8-K Other Events

ME Staff 8-k
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MCBC Holdings,Inc. (NASDAQ:MCFT) Files An 8-K Other Events
Item 8.01. Other Events.

On December 15, 2016, MCBC Holdings, Inc. (the “Company”) entered into an agreement (the “Underwriting Agreement”) with B. Riley and Co., LLC (the “Underwriter”), and entities associated with Wayzata Investment Partners (collectively, the “Selling Stockholders”), whereby the Selling Stockholders agreed to sell and the Underwriter agreed to purchase, subject to and upon the terms and conditions set forth in the Underwriting Agreement, 1,500,000 shares of the Company’s common stock, $0.01 par value per share, at a public offering price of $13.45 per share, less discounts and commissions of $0.34 per share.

The Underwriting Agreement contains customary representations, warranties and agreements of the Company and the Selling Stockholders and customary indemnification rights and obligations of the parties.

The Company will not receive any proceeds from the offering. The offering was made to the Company’s effective registration statement on Form S-3, as amended (Registration No. 333- 212812). A copy of the Underwriting Agreement is attached hereto as Exhibit 1.1 and is incorporated herein by reference. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

1.1 Underwriting Agreement

 


About MCBC Holdings, Inc. (NASDAQ:MCFT)

MCBC Holdings, Inc. (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating. The Company distributes the MasterCraft product brand through its dealer network. The Company manufactures a range of Hydra-Sports recreational fishing boats. It also leases a parts warehouse in the United Kingdom to expedite service, primarily to dealers and customers in the European Union. Its MasterCraft-branded portfolio includes Star Series, XSeries and NXT boats. In addition, MCBC offers various accessories, including trailers and aftermarket parts. The Company operates primarily through its subsidiaries, MasterCraft Boat Company, LLC and MCBC Hydra Boats, LLC.

MCBC Holdings, Inc. (NASDAQ:MCFT) Recent Trading Information

MCBC Holdings, Inc. (NASDAQ:MCFT) closed its last trading session up +0.01 at 14.14 with 351,449 shares trading hands.