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CLEARWATER, Fla. — MarineMax has issued 390,000 shares of its common stock at a price of $7 per share for total gross proceeds of approximately $2.7 million, the company reported in a release.
The issuance is a result of the full exercise of the over-allotment option to purchase additional shares granted to the underwriter in MarineMax’s public offering of 2,600,000 shares of its common stock, which was announced on Sept. 10. Raymond James & Associates served as the sole underwriter for the offering, according to MarineMax.
The boat retail chain said the net proceeds will be used for general corporate purposes, possibly including debt reduction.
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