OneWater Marine Inc. (ONEW) Prices Initial Public Offering at $12/Share

OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater”) announced today the pricing of an initial public offering of 4,615,385 shares of its Class A common stock at $12.00 per share. The shares are expected to begin trading on the NASDAQ Global Market today under the ticker symbol “ONEW.” In addition, OneWater granted the underwriters a 30-day option to purchase up to an additional 692,308 shares of OneWater’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on February 11, 2020, subject to customary closing conditions.

OneWater expects to receive approximately $47.3 million of net proceeds from the offering, or $55.0 million if the underwriters exercise their option to purchase additional shares in full. OneWater intends to contribute the net proceeds to its subsidiary, One Water Marine Holdings, LLC (“OneWater LLC”) in exchange for limited liability company units in OneWater LLC. OneWater LLC intends to use such net proceeds, together with cash on hand and borrowings under its credit facility, to redeem all outstanding preferred units in One Water Assets & Operations, LLC held by certain affiliates of Goldman Sachs & Co. LLC and The Beekman Group.

Raymond James, Baird and SunTrust Robinson Humphrey are acting as joint book-running managers for the offering.

The offering of these securities will be made only by means of a prospectus.

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