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Lazydays Holdings, Inc. (NASDAQ:GORV) announced a series of completed asset sales at multiple dealership sites, according to a statement filed with the Securities and Exchange Commission. The transactions, part of an Asset Purchase Agreement with CIRV Group, LLC and affiliates, occurred between November 19 and Tuesday.
The company finalized the sale of assets at sites in Portland, Oregon; Knoxville, Tennessee; Council Bluffs, Iowa; Tucson, Arizona; Aurora, Colorado; St. George, Utah; Ramsey, Minnesota; Monticello, Minnesota; Wilmington, Ohio; Waller, Texas; Johnstown, Colorado; and additional real property in Knoxville, Tennessee. The total purchase price paid by the buyers across these closings was approximately $143.5 million.
Proceeds from the sales were primarily used to repay Lazydays Holdings’ senior secured indebtedness and related obligations under its credit agreement. No cash from the transactions was retained by the company. Transaction expenses, costs, and taxes were also paid from the proceeds.
The company stated that it anticipates completing final closings for its remaining sites in Las Vegas, Nevada; Seffner, Florida; Tampa, Florida; and Wildwood, Florida. Following these transactions, Lazydays Holdings and its subsidiaries will have sold substantially all of their assets and will not have any remaining operating business.
Lazydays Holdings expects to wind up its affairs and dissolve under a previously approved Amended Plan of Liquidation and Dissolution. The company indicated that its secured and unsecured obligations are expected to exceed its assets, and shareholders are not expected to receive any return on their investment as a result of the dissolution.
The company expects its common stock to be delisted from the Nasdaq Capital Market on November 28, 2025. Lazydays Holdings stated it cannot provide assurance that trading of its common stock or any other securities will be possible on any other market following the delisting.
This article is based on a press release statement filed with the SEC.
In other recent news, Lazydays Holdings, Inc. announced its intention to delist from the Nasdaq Capital Market following the approval of an Asset Purchase Agreement with affiliates of Campers Inn Holding Corporation. The agreement involves the sale of substantially all of Lazydays’ assets, with the delisting expected to be effective around November 28, 2025. This decision comes as Lazydays plans to complete site-by-site closings of the asset sale between November 17 and November 26, 2025. Additionally, Campers Inn RV has expressed plans to acquire Lazydays’ assets and subsidiaries, aiming to expand its dealership locations to 48 across 22 states. Campers Inn intends to maintain operations at Lazydays’ dealerships in several states, including Arizona and Florida. Furthermore, Lazydays has amended a waiver on its credit agreement with Manufacturers and Traders Trust Company and other lenders, addressing potential defaults related to vehicle curtailment and interest payments. The amendment follows a previous waiver effective from July 31, 2025. These developments reflect significant changes in Lazydays’ business operations and financial arrangements.
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