Donerail confirms $35.00 per share acquisition proposal for MarineMax

The Donerail Group has submitted a non-binding indicative proposal to acquire 100% of MarineMax (HZO) for $35.00 per share in cash. The proposal implies a total transaction value of approximately $1.1B excluding floor plan financing, and represents a 38% premium over MarineMax’s 60-day volume-weighted average price of $25.45. Donerail is currently one of the Company’s largest shareholders, beneficially owning more than 4% of the Company’s outstanding shares, and has secured highly confident equity and debt support letters from leading global alternative investment firms, subject to confirmatory due diligence, to finance the acquisition of all remaining equity and refinance the Company’s existing indebtedness, excluding floor plan financing. Any definitive agreement is expected not to be subject to financing conditions.