Deal Details

OneWater Completes $63.4 Million Follow-On Offering

Industrial
Consumer

OneWater follow-on offering

Summary

OneWater Marine Inc. (“OneWater” or “the “Company”) (NASDAQ: ONEW), recently completed a follow-on offering of 3,170,868 shares of its Class A common stock at a price of $20.00 per share. The Company offered 425,000 shares of its Class A common stock, and the selling stockholders offered 2,745,868 shares of OneWater’s Class A common stock, generating gross proceeds of approximately $63.4 million. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 475,630 shares of Class A common stock. The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, including the expansion of its business and general and administrative matters.

Baird served as a joint bookrunner on this offering.

About

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 50 manufactures covering 66 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.