Camping World skids on $300 million equity raise

Camping World Holdings

31/10/2024 11:51

** Camping World's  CWH.N  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))