MCBC Holdings (MCFT) Sees IPO Price of $13 - $15/Share
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Overall Analyst Rating:
BUY ( Up)
Dividend Yield: 38.5%
Revenue Growth %: -44.3%
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MCBC Holdings, Inc. (Nasdaq: MCFT), filed an amended registration with the U.S. SEC for an Initial Public Offering of its Common Stock. The company plans to sell 6,071,429 shares of its common stock and see an offering price of $13 to $15 per share. The company plans to list on the Nasdaq Global Market under the ticker, MCFT.
Underwriters on the offering are: Baird, Raymond James, Wells Fargo Securities, KeyBanc Capital Markets, and Wunderlich.
Key financial highlights:
-- net sales growth from $137.3 million to $177.6 million from fiscal 2012 to fiscal 2014, representing a compound annual growth rate ("CAGR") of 13.7%;
-- net sales growth of MasterCraft-branded products from $118.4 million to $163.6 million from fiscal 2012 to fiscal 2014, representing a CAGR of 17.6%; and
-- Adjusted EBITDA growth from $1.7 million to $18.4 million from fiscal 2012 to fiscal 2014, representing a CAGR of 229.0%. For a reconciliation of net income to Adjusted EBITDA, see Note 3 to the information contained in "Summary Historical Consolidated Financial Data.
MCBC Holdings is a world-renowned innovator, designer, manufacturer, and marketer of premium performance sport boats, with a leading market position in the U.S., a strong international presence, and dealers in 40 countries around the world.
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