Off The Hook YS, a yacht and boat retailer and wholesaler, raised $15 million by offering 3.8 million shares at $4, the low end of the range of $4 to $6. The company offered 1.3 million fewer shares than anticipated. At pricing, Off The Hook commands a market cap of $95 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 historically 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 plans to list on the NYSE American under the symbol OTH. ThinkEquity acted as sole bookrunner on the deal.
