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Off The Hook YS Inc. Announces Pricing of its Initial Public Offering
Globenewswireยท 2025-11-13 00:59
Core Viewpoint - Off The Hook YS Inc. has announced the pricing of its initial public offering (IPO) of 3,750,000 shares at $4.00 per share, aiming for gross proceeds of $15 million before expenses [1][2]. Company Overview - Off The Hook is a leading yacht and boat wholesaler, utilizing advanced technology and AI-assisted valuation tools to enhance transparency and efficiency in yacht transactions [6]. - The company has been recognized as one of the 500 fastest-growing companies in the U.S. by Inc. 500 for two consecutive years and is consistently ranked as a Top 100 Dealer in the USA by Boating Industry magazine [6]. - Off The Hook generates over $90 million in annual sales, operates across eight locations, and employs over 35 sales representatives who transact on more than 400 vessels each year [6]. Use of Proceeds - The proceeds from the IPO will be allocated for working capital, advertising and marketing inventory, potential down payments for waterfront properties, and repayment of a promissory note [2]. IPO Details - The common stock is expected to begin trading on the NYSE American under the symbol "OTH" on November 13, 2025, with the offering closing on November 14, 2025, pending customary closing conditions [2]. - ThinkEquity is acting as the sole book-running manager for the offering [3]. Regulatory Information - A registration statement on Form S-1 was filed with the SEC and became effective on October 30, 2025, with the offering being made only by means of a prospectus [4].