Introductory Note
As previously announced, on August 8, 2022, MarineMax, Inc., a
Florida corporation (“MarineMax” or the “Company”), and its
wholly-owned subsidiary, MarineMax East, Inc., a Delaware
corporation (the “Buyer”) entered into a Securities Purchase
Agreement (the “Purchase Agreement”) with Island Marina Holdings
LLC, a Delaware limited liability company, and Island Marinas
Subsidiary Corp., a Delaware corporation (together, the “Sellers”),
pursuant to which the Buyer agreed, subject to specified terms and
conditions, to purchase all of the outstanding membership interest
units of Island Global Yachting LLC, a Delaware limited liability
company, and, as part of the overall transaction, the outstanding
membership interest of Island Gardens Deep Harbour, LLC, a Delaware
limited liability company (the “Transaction”). The Transaction
closed on October 3, 2022, effective as of October 1,
2022. The Transaction was consummated for an aggregate cash
purchase price of $480 million in cash, subject to customary
purchase price adjustments set forth in the Purchase Agreement,
with an additional potential payment of up to $100 million in
cash two years after closing, subject to the achievement of certain
performance metrics set forth in the Purchase Agreement.
On October 4, 2022 the Company filed a Current Report on Form
8-K (the “Initial Form
8-K”) with the Securities
and Exchange Commission (the “SEC”) disclosing that it had
consummated the Transaction and that the financial statements
required by Item 9.01(a) and the pro forma financial information
required by the Item 9.01(b) of the Current Report on Form
8-K would be filed by
amendment. This Amendment No. 1 to Current Report on Form
8-K (this “Amended Form
8-K”) amends the Initial
Form 8-K solely to provide
the required financial statements and pro forma financial
information.
This Amended Form 8-K
should be read in conjunction with the Initial Form 8-K and the Company’s other filings
with the SEC. Except as stated in this Amended Form 8-K, this Amended Form 8-K does not reflect events occurring
after the filing of the Initial Form 8-K with the SEC on October 4,
2022 and no attempt has been made in this Amended Form 8-K to modify or update other
disclosures as presented in the Initial Form 8-K.
Item 9.01 |
Financial Statements and Exhibits.
|
(a) Financial statements of business acquired.
The audited Consolidated Balance Sheets of Island Global Yachting
LLC and its subsidiaries (collectively, “IGY”) as of
December 31, 2021 and 2020, the audited Consolidated
Statements of Operations of IGY for the years ended
December 31, 2021 and 2020, the audited Consolidated
Statements of Comprehensive Income (Loss) of IGY for the years
ended December 31, 2021 and 2020, the audited Consolidated
Statements of Members’ Equity of IGY for the years ended
December 31, 2021 and 2020, the audited Consolidated
Statements of Cash Flows of IGY for the years ended
December 31, 2021 and 2020, and the notes related to such
audited consolidated financial statements (collectively, the
“Audited Consolidated Financial Statements of IGY”) are filed as
Exhibit 99.1. The Audited Consolidated Financial Statements of IGY
are incorporated in this Item 9.01(a) by reference.
The audited Balance Sheets of Island Gardens Deep Harbour, LLC
(“IGDH”) as of December 31, 2021 and 2020, the audited
Statements of Operations of IGDH for the years ended
December 31, 2021 and 2020, the audited Statements of Changes
in Member’s Equity of IGDH for the years ended December 31,
2021 and 2020, the audited Statements of Cash Flows of IGDH for the
years ended December 31, 2021 and 2020, and the notes related
to such audited financial statements (collectively, the “Audited
Financial Statements of IGDH”) are filed as Exhibit 99.2. The
Audited Financial Statements of IGDH are incorporated in this Item
9.01(a) by reference.
The unaudited Combined Condensed Balance Sheets of IGY and IGDH
(collectively, “IGY Marinas”) as of June 30, 2022 and
December 31, 2021, the unaudited Combined Condensed Statements
of Operations of IGY Marinas for the six months ended June 30,
2022 and June 30, 2021, the unaudited Combined Condensed
Statements of Comprehensive Income (Loss) of IGY Marinas for the
six months ended June 30, 2022 and June 30, 2021, the
unaudited Combined Condensed Statements of Members’ Equity of IGY
Marinas for the six months ended June 30, 2022 and
June 30, 2021, the unaudited Combined Condensed Statements of
Cash Flows of IGY Marinas for the six months ended June 30,
2022 and June 30, 2021, and the notes related to such
unaudited combined condensed financial