MARINEMAX INC 8-K

What Happened

• On June 29, 2026, MarineMax, Inc. and its subsidiaries refinanced their existing credit agreement, entering into an Amended and Restated Credit Agreement with Manufacturers and Traders Trust Company (M&T) as Administrative Agent and other lenders (including Wells Fargo as Floor Plan Agent). The New Credit Facility preserves the $950 million floor plan and adds a new credit structure that includes a $150 million revolving credit facility, a $302.5 million term loan, and an $85 million delayed draw mortgage loan. All facilities mature in June 2031. MarineMax issued a press release on June 30, 2026 announcing the new facility.

Key Details

• Total floor plan capacity maintained at $950.0 million.
• Revolving credit: up to $150.0 million (includes $20.0M swingline and $20.0M letter of credit sublimit).
• Term loan: $302.5 million; Delayed draw mortgage loan: $85.0 million.
• Interest: floor plan at +3.25% over 1‑month term SOFR; revolver/term loan at +1.50%–2.00% over 1/3/6‑month term SOFR (tiered by leverage); mortgage at +2.20% over term SOFR. Alternate base rate and non‑USD rate options are available.
• Collateral: secured by the Company’s personal property (inventory and related receivables); mortgage loans secured by pledged real estate. Many lenders also have other banking and customer‑finance relationships with MarineMax.

Why It Matters

• The refinancing secures MarineMax’s inventory financing and extends debt maturities to June 2031, preserving liquidity and dealer floorplan capacity critical to retail boat sales operations.
• The new structure adds term and mortgage financing, which may support longer‑term investments (e.g., real estate or strategic capital needs), while pricing is tied to SOFR and varies with leverage, so borrowing costs will track market rates and the company’s leverage profile.
• The facilities are secured and provided by lenders who already have broader relationships with MarineMax, indicating continuity of banking support.