Tiger Brokers

BUZZ-Camping World skids on $300 million equity raise

Reuters
Oct 31, 2024

** Camping World's shares down 8.8% at $20.74 before the bell after RV (recreational vehicle) retailer raises equity ** Good Sam brand owner late Weds announced pricing ~14.6 mln shares at $20.50 for gross raise of $300 mln

** Offering price represents 9.8% discount to last sale

** CWH to use net proceeds to purchase common units from CWGS Enterprises

** In turn, CWGS to use proceeds for strengthening balance sheet, working capital for growth and debt pay down

** CWH has ~85 mln shares outstanding for ~$1.9 bln market cap, per LSEG

** Goldman Sachs and JP Morgan leading stock offering ** CWH late Mon reported Q3 rev of $1.72 bln, topping LSEG estimate of $1.64 bln

** Through Weds close, shares down 13% YTD. They closed at $16.75 a yr ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10