Off The Hook YS Completes $15 Million Initial Public Offering

Off The Hook YS, trading on the NYSE American under the symbol OTH, has successfully closed its initial public offering of 3,750,000 shares at $4.00 per share, generating gross proceeds of $15 million before accounting for underwriting discounts and offering expenses. The company granted underwriters a 45-day option to purchase up to 562,500 additional shares, potentially increasing the total offering size. ThinkEquity served as the sole book-running manager for the offering, overseeing the entire process from pricing to distribution.

The capital raised through this public offering will be strategically allocated across several key areas of the company's operations. A significant portion of the proceeds will be used to service the company's floorplan financing, which supports inventory acquisition and management. Additional funds will be directed toward advertising and marketing initiatives to promote the company's extensive inventory of yachts and boats. The company also plans to use a portion of the proceeds to repay a promissory note and provide working capital to support ongoing operations and potential expansion opportunities.

Off The Hook has established itself as a premier yacht and boat wholesaler specializing in the buying and selling of marine vessels. The company leverages advanced technology, including proprietary AI-assisted valuation tools and a data-driven sales platform, to bring greater transparency and efficiency to yacht transactions. This technological approach has positioned the company as an innovative force in the traditionally conservative marine industry. Over the past decade, the company has demonstrated impressive growth, having been named one of the 500 fastest-growing companies in the United States by Inc. 500 for two consecutive years and consistently ranked as a Top 100 Dealer in the USA by Boating Industry magazine.

Today, Off The Hook generates over $90 million in annual boat and yacht sales, operating across eight locations with a team of more than 35 sales representatives who transact on over 400 vessels each year. The company's success is built on a commitment to excellence, emphasizing the hiring of highly skilled professionals who embody integrity and passion for the boating industry. By prioritizing relationship-building and ensuring client satisfaction, Off The Hook has established itself as the go-to wholesaler in the marine industry. For additional information about the company, visit https://www.offthehookyachts.com/.

The successful completion of this initial public offering represents a significant milestone for Off The Hook YS, providing the financial resources necessary to accelerate growth and expand market presence. The public listing on the NYSE American exchange also increases the company's visibility among investors and enhances its ability to access capital markets for future growth initiatives. The marine industry has shown resilience and growth in recent years, and Off The Hook's public market debut comes at a time when investor interest in specialized retail and wholesale businesses with strong technological components is particularly high. The full details of the offering can be accessed at https://ibn.fm/9TdrA.