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FAQ: Off The Hook YS Inc. $15 Million IPO and Company Overview
TL;DR
Off The Hook YS raised $15 million in its IPO, providing capital to expand market presence and gain competitive advantage in yacht wholesaling.
Off The Hook YS completed its IPO of 3.75 million shares at $4 each, with proceeds allocated to servicing floorplan, marketing, debt repayment, and working capital.
Off The Hook YS's IPO funding will enhance industry transparency and efficiency through technology, improving the yacht buying experience for customers.
Off The Hook YS, a premier yacht wholesaler with $90 million in annual sales, successfully launched its IPO using AI tools to revolutionize boat transactions.
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Off The Hook YS Inc. has closed its initial public offering, raising $15 million by selling 3,750,000 shares at $4.00 per share, with underwriters having a 45-day option to purchase up to 562,500 additional shares.
Off The Hook is a premier yacht and boat wholesaler specializing in buying and selling yachts and boats, using advanced technology, proprietary AI-assisted valuation tools, and a data-driven sales platform.
The proceeds will be used to service the floorplan, advertise and market inventory, repay a promissory note, and provide working capital for the company.
ThinkEquity served as the sole book-running manager for the offering.
The company trades under the symbol OTH on the NYSE American exchange.
The company has been named one of the 500 fastest-growing companies in the United States by Inc. 500 for two consecutive years, is consistently ranked as a Top 100 Dealer in the USA by Boating Industry magazine, and generates over $90 million in annual boat and yacht sales.
The company operates across eight locations with a team of over 35 sales representatives who transact on more than 400 vessels each year.
You can visit the company's website at https://www.offthehookyachts.com/ or view the full press release at https://ibn.fm/9TdrA.
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Curated from InvestorBrandNetwork (IBN)
