OneWater Marine Group IPO: What You Need To Know

This retailer anticipates fair winds and following seas as a public company.

OneWater Marine Inc. this week will issue nearly 3.2 million shares on the Nasdaq under ticker “ONEW,” according to the firm’s S-1 filing. Priced between…

$18 and $20, the offering represents 86.6% of outstanding shares and is expected to raise $72.6 million.

The lead underwriters are Goldman Sachs and Raymond James.

The company qualifies as an emerging growth company under the U.S. JOBS Act, which exempts management from certain SEC disclosure requirements.

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The Company

Founded in 2014, the premium recreational boat dealer sells 72 brands in 63 dealerships across 11 states. Eight of the states are in the top 20 for marine retail sales.

“We believe that we are a market leader by volume in sales of premium boats in 12 out of the 17 markets where we operate,” the company wrote in its prospectus.

Last year, non-boat sales accounted for 10% of revenue and 27% of gross profit.

The Finances

In 2018, the company reported revenue of…

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