SCHEDULE 13G/A: Park West Asset Management Discloses 9.99% Passive Stake in Lazydays Holdings

Park West Asset Management LLC, along with its affiliated entities and Peter S. Park, has disclosed a combined beneficial ownership of 9.99% in Lazydays Holdings, Inc. as of December 31, 2024, through a Schedule 13G filing.

Summary

• Park West Asset Management LLC, Park West Investors Master Fund, Limited, and Peter S. Park collectively reported beneficial ownership of 10,982,427 shares of Lazydays Holdings, Inc. common stock.
• This aggregate ownership represents 9.99% of the company's outstanding common stock as of December 31, 2024.
• Park West Investors Master Fund, Limited (PWIMF) individually reported beneficial ownership of 9,777,264 shares, or 8.9% of the class.
• The beneficial ownership calculation is based on 109,817,776 shares of Common Stock outstanding as of December 31, 2024, as reported by Lazydays Holdings, Inc. in its 424(b)(4) filing on January 13, 2025.
• The reported shares include those exercisable from prefunded warrants, which are subject to limitations preventing beneficial ownership from exceeding 9.99%.

Sentiment

Score: 5

Explanation: This is a factual compliance filing (Schedule 13G) disclosing beneficial ownership. It does not contain performance data, strategic updates, or forward-looking statements from the company, thus maintaining a neutral sentiment.

Positives

• The filing indicates a significant, passive investment by an institutional fund, which can be viewed as a vote of confidence in the company's long-term prospects by a sophisticated investor.

Risks

• Prefunded warrants held by the reporting persons are subject to exercise and conversion limitations, prohibiting their exercise or conversion to the extent that it would result in the holder or its affiliates beneficially owning in excess of 9.99% of the Issuer's Common Stock.

Future Outlook

N/A

Management Comments

• "The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

N/A

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, which can influence market perception and trading activity.

Key Dates

Keywords

Lazydays Holdings, Park West Asset Management, Schedule 13G, beneficial ownership, institutional investment, common stock, SEC filing, passive investment