Off The Hook YS, a yacht and boat retailer and wholesaler, announced terms for its IPO on Monday.
The Wilmington, NC-based company plans to raise $25 million by offering 5 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Off The Hook YS would command a market value of $125 million.
The company is a yacht and boat dealer and wholesaler, and it claims to be the largest marine wholesaler in the industry. It has eight physical locations, as well as an online presence. The company has historical dealt with pre-owned boats, although it is expanding into the sale of new boats. Off The Hook also offers financing solutions for clients, as well as complementary vessel services and repairs.
Off The Hook YS was founded in 2012 and booked $105 million in sales for the 12 months ended March 31, 2025. It plans to list on the NYSE American but has not selected a symbol yet (RC ticker: OFT.RC). ThinkEquity is the sole bookrunner on the deal.
