Initial Public Offering
Baird served as a joint bookrunner on this offering
AboutOneWater Marine Inc. (“OneWater” or “the “Company”) (NASDAQ: ONEW), recently completed an initial public offering of 4,615,385 common stock at a price of $12.00 per share, generating gross proceeds of approximately $55.4 million for the Company. In addition, OneWater has granted the underwriters a 30-day option to purchase up to 692,308 additional common stock. The Company intends to use the net proceeds of this offering, together with cash on hand and borrowings under its credit facility, to redeem all outstanding preferred units in One Water Assets & Operations, LLC held by certain affiliates of Goldman Sachs & Co. LLC and The Beekman Group.
OneWater is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 63 stores throughout 11 different states, 8 of which are in the top 20 states for marine retail expenditures. OneWater offers a wide array of new and pre-owned boats through relationships with over 52 manufactures covering 73 brands, in addition to the sale of parts and accessories, finance and insurance products, maintenance and repair services and other ancillary services. OneWater is headquartered in Buford, Georgia.
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- February 2020
- OneWater Marine Inc.
- Target Location
- North America