Lazydays Holdings Inc.

11/19/2024 | Press release | Distributed by Public on 11/19/2024 16:47

Statement of Changes in Beneficial Ownership - Form 4

Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Coliseum Capital Management, LLC
2. Issuer Name and Ticker or Trading Symbol
Lazydays Holdings, Inc. [LAZY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
105 ROWAYTON AVE.
3. Date of Earliest Transaction (Month/Day/Year)
11/15/2024
(Street)
ROWAYTON, CT 06853
4. If Amendment, Date Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.0001 ("Common Stock") 11/15/2024 P 14,563,106 A $1.03(1) 21,085,529(2) I See footnotes(3)(4)
Common Stock 11/15/2024 J(5)(6) 55,407,455 A (5)(6)(7) 76,492,984 I See footnotes(3)(4)(8)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series A Convertible Preferred Stock ("Preferred Stock") $4.50 11/15/2024 J(5)(6) 500,000 (9) (9) Common Stock 55,407,455 (5)(6)(7) 0 I See footnote(10)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Coliseum Capital Management, LLC
105 ROWAYTON AVE.
ROWAYTON, CT 06853
X
Coliseum Capital, LLC
105 ROWAYTON AVE.
ROWAYTON, CT 06853
X
COLISEUM CAPITAL PARTNERS, L.P.
105 ROWAYTON AVE.
ROWAYTON, CT 06853
X
Gray Adam
105 ROWAYTON AVE.
ROWAYTON, CT 06853
X
Shackelton Christopher S
105 ROWAYTON AVE.
ROWAYTON, CT 06853
X

Signatures

Coliseum Capital Management, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact, Chivonne Cassar, Attorney-in-fact 11/19/2024
**Signature of Reporting Person Date
Coliseum Capital, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact, Chivonne Cassar, Attorney-in-fact 11/19/2024
**Signature of Reporting Person Date
Coliseum Capital Partners, L.P., By: Coliseum Capital, LLC, its General Partner, By: /s/ Chivonne Cassar, Attorney-in-fact, Chivonne Cassar, Attorney-in-fact 11/19/2024
**Signature of Reporting Person Date
Adam Gray, By: /s/ Chivonne Cassar, Attorney-in-fact, Chivonne Cassar, Attorney-in-fact 11/19/2024
**Signature of Reporting Person Date
Christopher Shackelton, By: /s/ Chivonne Cassar, Attorney-in-fact, Chivonne Cassar, Attorney-in-fact 11/19/2024
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On November 15, 2024, CCP (as defined below) and the Separate Account (as defined below) entered into a Securites Purchase Agreement with the Issuer, for the sale and issuance of 10,992,330 shares of Common Stock to CCP and 3,640,776 shares of Common Stock to Blackwell, in each case, at a price per share of $1.03 (the "PIPE Shares").
(2) Takes into account the forfeiture of 8,654 restricted stock units in connection with Mr. Shackelton's departure from the board of directors of the Issuer on June 9, 2024.
(3) The shares of Common Stock reported herein are held directly by (i) Coliseum Capital Partners, L.P. ("CCP"), an investment limited partnership of which Coliseum Capital, LLC, a Delaware limited liability company ("CC"), is general partner and for which Coliseum Capital Management, LLC, a Delaware limited liability company ("CCM"), serves as investment adviser and (ii) a separate account investment advisory client of CCM (the "Separate Account").
(4) Christopher Shackelton ("Shackelton") and Adam Gray ("Gray") are managers of and have an ownership interest in each of CCM and CC. Each of Shackelton, Gray, CCP, the Separate Account, CC and CCM disclaims beneficial ownership of these securities except to the extent of that person's pecuniary interest therein.
(5) On November 15, 2024, the Issuer entered into Preferred Stock Exchange Agreements (the "Exchange Agreements") with CCP and the Separate Account as well as certain other holders of Preferred Stock. Pursuant to the applicable Exchange Agreements, CCP and the Separate Account agreed to exchange 500,000 shares of Preferred Stock for 55,407,455 shares of Common Stock (the "Exchange Shares"), eliminating the current accrued liquidation preference of the Preferred Stock with respect to such shares of Preferred Stock and annual dividend with respect to such sharees.
(6) CCP and the Separate Account exchanged an aggregate of 125,000 shares of Preferred Stock for 13,851,864 Exchange Shares on November 15, 2024. CCP and the Separate Account's remaining 375,000 shares of Preferred Stock will automatically be exchanged for 41,555,591 Exchange Shares and issued when the Issuer files an amendment to its Certificate of Incorporation to increase the authorized number of shares of Common Stock necessary to accommodate the exchange of the full amount of the Preferred Stock to Common Stock (the "Charter Amendment"). The necessary stockholders approved the Charter Amendment by written consent on November 15, 2024, and the Charter Amendment will be filed as soon as permitted after the filing of an information statement and required waiting period pursuant to Rule 14c-2 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Accordingly, there are no material conditions to the issuance of the remaining 41,555,591 Exchange Shares.
(7) The sale of 500,000 Preferred Stock in exchange for 55,407,455 Exchange Shares and the purchase of the PIPE Shares took place concurrently. Pursuant to Rule 16b-6(c)(2) of the Exchange Act, there is no profit with respect to such transactions.
(8) Following the transactions reported herein, CCP directly owned 57,144,660 shares of Common Stock, and the Separate Account directly owned 19,348,324 shares of Common Stock.
(9) The Preferred Stock is convertible at the holder's election at any time in whole or in part and has no expiration date.
(10) All Preferred Stock held by CCP and the Separate Account was sold pursuant to an Exchange Agreement on November 15, 2024.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.