Off The Hook Yachts Signs Definitive Agreement to Acquire Bellhart Marine, Creating the Carolinas’ Premier Mega Service & Refit Platform
April 2, 2026
Wilmington, NC, April 02, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: OTH) (“Off The Hook Yachts” or “Off The Hook” or “the Company”), a vertically integrated, AI-powered marine marketplace and one of the largest buyers and sellers of used boats in the United States, today announced that it has entered into a definitive agreement to acquire Bellhart Marine Group, LLC, along with its affiliated entities Bellhart Marine Services, LLC, Specialized Mechanical Services, LLC, and Specialized Mechanical Services, Inc. (collectively, “Bellhart”).
Transformational Step Toward a Mega Service & Refit Platform
This acquisition represents a major strategic expansion of Off The Hook’s service capabilities, positioning the Company to build what it believes will become the premier marine “Mega Service & Refit Center” platform in the Carolinas.
The combined platform is designed to function as a high-efficiency reconditioning and service engine, enabling the Company to rapidly intake, service, refit, and remarket vessels at scale.
By bringing best-in-class service operations in-house, Off The Hook expects to:
- Significantly accelerate inventory reconditioning timelines
- Improve gross margins through lower service costs
- Increase control over quality and execution
- Enhance speed-to-market for resale inventory
“This is an infrastructure-driven acquisition,” said Jason Ruegg, Founder of Off The Hook Yachts. “We are building what we believe will be one of the most efficient marine service and refit platforms on the East Coast-allowing us to recondition boats faster, more cost-effectively, and at a higher level of consistency than the traditional model.”
Establishing a Three-Location Mega Service Network
As part of the transaction, Off The Hook will operate an integrated, multi-location service platform across three strategic facilities:
Cape Fear River Shipyard (Heavy Service & Yacht Refit Hub)
A full-service shipyard capable of hauling vessels up to approximately 70 tons, supporting major refits, structural work, and large-yacht service projects.
Market Street Facility (Outboard Service & Repower Center)
A high-volume service and diagnostics center focused on outboard engines, repowers, and ongoing maintenance, while also serving as a primary sales and customer interface location.
Sloop Point Marina (Dry Stack Service & Sales Hub)
Following recent approval to expand to approximately 450 dry stack racks, this location will serve as a high-density service and sales hub. Bellhart will lead service operations and new boat sales, supporting a large and growing captive customer base.
Strategic Geographic and Cost Advantage
Off The Hook believes its Wilmington-based service platform provides a unique competitive advantage:
- Lower refit and service costs compared to South Florida, making it economically advantageous to transport certain vessels to North Carolina for refurbishment
- Strategic positioning between Florida and the Northeast boating markets, allowing efficient movement of inventory
- Immediate access (approximately 5-10 minutes) to Wilmington International Airport, enabling convenient travel for buyers to inspect vessels
This combination of cost efficiency, location, and accessibility is expected to expand the Company’s buyer reach while improving profitability on reconditioned inventory.
Enhancing Vertical Integration Through Service Excellence
The acquisition strengthens Off The Hook’s vertically integrated model by adding nearly two decades of service expertise from Bellhart, along with deep diesel capabilities from Specialized Diesel.
Bellhart is widely recognized as a leading marine service provider in the Carolinas, with a strong reputation for quality, reliability, and customer satisfaction.
By integrating these operations, the Company expects to:
- Reduce reliance on third-party service providers
- Increase service throughput and capacity
- Improve turnaround time on inventory
- Deliver a more consistent and higher-quality customer experience
“Service is one of the most important-and historically fragmented-components of the marine industry,” added Ruegg. “By bringing this capability in-house with proven operators like Bellhart and Specialized Diesel, we are creating a platform that is faster, more efficient, and more scalable.”
Scaling Platform Synergies and Inventory Throughput
The addition of Bellhart’s operations is expected to further enhance Off The Hook’s ability to efficiently source, recondition, and remarket inventory, supporting faster transaction cycles and improved capital efficiency.
When combined with the Company’s proprietary AI-driven marketplace and acquisition engine, the expanded service infrastructure is expected to:
- Increase inventory velocity
- Improve margin capture
- Support more consistent execution across markets
“This acquisition aligns directly with our long-term strategy of building a scalable, infrastructure-backed platform,” said Brian John, Chief Executive Officer of Off The Hook Yachts. “By significantly expanding our service capabilities, we are positioning the Company to drive increased transaction volume, improve operating efficiency, and enhance long-term profitability.”
This transaction marks another pivotal milestone in Off The Hook’s execution of its long-term infrastructure strategy. With the addition of Bellhart, the Company is further advancing its vision of building a fully integrated network of “Mega Hub” facilities across the East Coast. Complementing its previously announced South Florida Mega Hub (Apex Marine Group) and Mid-Atlantic hub on the Chesapeake Bay, this Carolinas platform strengthens a tri-regional footprint spanning South Florida, the Mid-Atlantic, and the central East Coast, positioning Off The Hook to accelerate inventory flow and scale its platform with greater efficiency and control.
Transaction Details
The transaction is subject to customary closing conditions, including due diligence and third-party approvals, and is expected to close within a standard transaction timeline.
About Off The Hook YS Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, AI-powered marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Contact
Off The Hook YS Inc.
Chad Corbin, Chief Financial Officer
chadcorbin@offthehookys.com
Investor Relations
ir@offthehookys.com
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
Off The Hook Highlights Post-IPO Execution and First Quarter 2026 Progress
April 1, 2026
Wilmington, NC, April 01, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: OTH) (“Off The Hook Yachts” or “Off The Hook” or “the Company”), a vertically integrated, AI-powered marine marketplace and one of the largest buyers and sellers of used boats in the United States, today announced a corporate update highlighting its operational momentum in the first quarter of 2026.
Following a record 2025 in which the Company generated $119.9 million in revenue, Off The Hook has entered 2026 with continued momentum as it executes on its strategy to scale its platform through increased inventory capacity, broker network expansion, and continued investment in infrastructure and technology.
“We went public with a clear objective: to scale the business by increasing our buying power and expanding our salesforce,” said Brian John, Chief Executive Officer of Off The Hook Yachts. “In a short period of time, we have accomplished both, positioning the Company to accelerate growth across our platform.”
Since its IPO, the Company has significantly expanded its inventory financing capacity, with its floorplan increasing to approximately $60 million, more than doubling from pre-IPO levels. In parallel, Off The Hook has rapidly expanded its broker network, more than doubling its salesforce, strengthening its ability to source inventory and transact across a broader national footprint.
These foundational investments have been complemented by continued expansion across the Company’s platform. Off The Hook expanded its national footprint through strategic partnerships and market entry initiatives, including expansion into the Great Lakes, Caribbean, and Latin American markets, increasing access to high-quality inventory and supporting its asset-light growth model.
The Company has also continued to build momentum within Autograph Yacht Group, its luxury brokerage division. Since launching on September 1, 2025, Autograph has facilitated the sale of 46 boats totaling approximately $81 million in gross transaction value, including 10 company-owned vessels representing $13.2 million. The remaining transaction volume was generated through third-party brokerage activity, for which the Company recognizes commission revenue. In December alone, Autograph recorded 12 brokerage transactions totaling $27.4 million in gross proceeds, reflecting strong early traction and increasing client demand. This performance highlights the strategic role of Autograph Yacht Group in driving higher-value transactions while also supporting the Company’s broader model of sourcing, owning, and reselling select inventory to enhance revenue and profitability.
Off The Hook has further strengthened its operating infrastructure through targeted investments and acquisitions. The pending acquisition of Apex Marine Group is expected to add four strategically located South Florida service and storage facilities, a full-service team, and in-house refurbishment capabilities, enabling the Company to process a significant portion of its inventory internally. These capabilities are expected to reduce third-party service costs, accelerate turnaround times, and improve overall operational efficiency.
In addition, the Company established a Mid-Atlantic operational hub through the March 2026 acquisition of a strategic waterfront facility on the Chesapeake Bay, enhancing its logistics, storage, and inventory management capabilities in a key regional market.
The Company also further expanded its South Florida presence with the opening of an additional office in Jupiter, supporting the continued growth of its brokerage operations in one of the most active marine markets in the United States.
Off The Hook continues to invest in its proprietary technology platform, which remains central to its operating model. Built on more than a decade of transaction data, the Company’s AI-driven system is designed to improve pricing accuracy, enhance buyer-seller matching, and increase transaction efficiency across its ecosystem. In March 2026, the Company introduced NextBoat AI, a consumer-facing extension of its platform that leverages proprietary data, including off-market opportunities and real-time inventory, to help buyers identify and acquire vessels more efficiently. By aligning buyer intent with both visible and non-visible supply, the platform is designed to enhance marketplace liquidity and further accelerate transaction activity across the network.
“We are building a platform designed to scale efficiently and capture a larger share of a highly fragmented market,” John added. “The progress we’ve made since our IPO reinforces our confidence in our strategy and in our ability to deliver sustained growth over the long term.”
About Off The Hook YS Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, AI-powered marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Contact
Off The Hook YS Inc.
Chad Corbin, Chief Financial Officer
chadcorbin@offthehookys.com
Investor Relations
ir@offthehookys.com
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
Off The Hook Yachts Reports Fourth Quarter and Full-Year 2025 Financial and Operating Results
March 30, 2026
Record revenue of $119.9 million, up 21.1% YOY
Record 426 boats sold in 2025, up 33% YOY
Increased 2026 revenue guidance to $150-$155 million
Successfully completed IPO, strengthening balance sheet and liquidity
Wilmington, NC, March 30, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: “OTH”, or “Off the Hook Yachts”), a vertically integrated marine marketplace and the largest buyer and seller of used boats in the nation, today announced financial results for the year ended December 31, 2025. The Company will host a live conference call today at 4:30 P.M. EST.
“We achieved record revenue of $120 million, expanded our national broker network, and continued to build out the infrastructure that we believe positions the Company for continued double-digit growth. Our vertically integrated model-combining brokerage, wholesale inventory acquisition, financing through Azure Funding, and our growing premier brokerage division-continues to differentiate Off the Hook Yachts in the marine industry,” said Brian John, Chief Executive Officer (CEO) of Off The Hook Yachts.
“Despite a more cautious macro environment for discretionary purchases, the number of boats that we sold grew by more than 30% year-over-year and continued to strengthen our leading market position in the pre-owned segment, where we believe long-term demand remains strong. With expanded floorplan capacity, increased broker productivity, and a growing national footprint, we believe OTH is well-positioned to accelerate growth in 2026 and continue building one of the leading platforms in the recreational marine market,” added Mr. John.
2025 Fourth Quarter Highlights
- Revenue increased 25.2% to $37.3 million, up from $29.8 million, in the same period of 2024
- Record 117 boats sold during the quarter, up 62.5%, in the same period of 2024
- Gross profit increased 63.2% to $3.1 million, up from $1.9 million, in the same period of 2024
- Completed IPO in November 2025, raising approximately $13.4 million in net proceeds
2025 Full-Year Highlights
- Record revenue of $119.9 million, up 21.1% compared to $99.0 million, in 2024
- Record 426 total boats sold, up 32.7% year-over-year
- Gross profit increased 30.6% to $11.5 million, up from $8.8 million, in 2024
- Net loss of $1.47 million, compared to net income of $1.0 million, in 2024, primarily reflecting increased operating expenses associated with becoming a public company, including $1.8 million of stock-based compensation
- Adjusted EBITDA of $0.5 million, compared to $1.2 million, in the same period of 2024
- Working capital on December 31, 2025, improved to $9.4 million
- Cash increased to $12.4 million on December 31, 2025, compared to $2.93 million on September 30, 2025.
2026 Full Year Guidance
For 2026, the Company expects annual revenue to be between $150 million and $155 million, an increase from the previous guidance of $140 million-$145 million.
Full-Year 2025 Financial Discussion
Revenue increased 21.1% to $119.9 million for the year ended December 31, 2025, compared to $99.0 million in 2024. The increase was primarily driven by a higher floorplan limit that allowed the Company to sustain greater utilization of the Company’s floorplan financing facility throughout the year. Average monthly utilization increased 78%, or $10 million, to $23.4 million in 2025. In addition, the launch of Autograph Yacht Group and the addition of new brokers increased the number of new and pre-owned boats sold in 2025. Pre-owned boat sales increased 20% to $101.7 million for the year ended December 31, 2025, compared to $84.8 million in 2024. The Company sold approximately 426 pre-owned boats in 2025, compared to 321 pre-owned boats in 2024. The average price per pre-owned boat sale transaction was $449,420 for the year ended December 31, 2025, and $509,694 for the year ended December 31, 2024. The Company sells a wide range of brands and sizes of pre-owned boats under different types of sales arrangements that include, trade-ins, brokerage and consignment, which often causes periodic and seasonal fluctuations in the average sales price.
New boat sales increased 32.0%, to $14.5 million in 2025, compared to $11.0 million, in 2024, reflecting increased marketing efforts and a more focused sales initiative for select new boat brands. The Company sold 21 new boats in 2025, compared to approximately 17 new boats, in the same period of 2024.
Revenue from finance-related activities through Azure Funding was $2.6 million, compared to
$3.0 million, in the same period of 2024. The decrease was primarily attributable to a higher mix of cash purchases among high-end buyers, as well as continued elevated marine loan interest rates relative to historical averages. Over 85% of these loans come from non-OTH brokers and dealers reflecting an opportunity for OTH to increase the attachment rate of Azure financing with each boat sale and thereby growing this high margin business internally.
Gross profit increased 30.6% to $11.5 million, compared to $8.8 million, in 2024. The increase was primarily driven by higher overall sales volume and continued improvements in inventory sourcing and purchasing strategies, particularly within the pre-owned boat segment. Gross profit as a percentage of sales increased by approximately 70 basis points to 9.6% in 2025, compared to 8.9%, in the same period in 2024. Pre-owned boat gross profit increased 32.1% to $8.4 million, compared to $6.3 million, in the same period in 2024, while new boat gross profit increased modestly to $0.8 million from $0.7 million, in the same period in 2024. Azure Finance related gross profit was $1.5 million, compared to $1.7 million, in the same period of 2024.
Operating expenses were $10.7 million for the year ended December 31, 2025, compared to $5.8 million, in 2024. The increase was driven by increased marketing investments and infrastructure investments to support the Company’s continued growth and expansion following its initial public offering, as well as $1.8 million of stock-based compensation recognized during the year. The Company expects operating expenses as a percentage of revenue to decline over time as it continues to scale the business and realize operating leverage that comes from the addition of high-margin businesses that are growing from a small base, like the Azure Finance division.
Interest expense related to floorplan financing increased to $1.9 million, compared to $1.1 million in the same period in 2024, reflecting increased utilization of the Company’s inventory financing facilities.
Net loss for 2025 was $1.6 million, compared to net income of $1.0 million, in the same period of 2024. The change was primarily driven by higher operating expenses associated with scaling the business and expenses related to becoming a public company.
Adjusted EBITDA was $0.5 million, compared to $1.2 million, in 2024, reflecting increased operating costs associated with the Company’s growth initiatives and public company infrastructure.
As of December 31, 2025, the Company had $12.4 million in cash, compared to $2.27 million on September 30, 2025.
Working capital improved to $9.4 million on December 31, 2025, compared to negative $0.4 million on December 31, 2024. The improvement was primarily driven by the successful completion of the Company’s initial public offering in November 2025, which generated approximately $13.4 million in cash proceeds, strengthening the Company’s liquidity position and balance sheet.
Total assets were $48.4 million on December 31, 2025, compared to $31.6 million on December 31, 2024. Total liabilities were $36.2 million, consisting primarily of $25.3 million in floorplan notes payable, as well as accounts payable, customer deposits, and operating lease liabilities.
The Company believes its current cash position, combined with operating cash flow and available inventory financing facilities, provides sufficient liquidity to support planned growth investments.
Fourth Quarter Financial Discussion
Fourth quarter revenues of $37.3 million, increased 25.2%, compared to fourth quarter revenues of $29.8 million, in 2024, this revenue increase was due to the increase in floor plan and the addition of Autograph Yachts. Revenue from arranging financing products, including financing, insurance and extended warranty contracts, to customers through various fourth-party financial institutions and insurance companies, was $0.820 million as compared to $0.845 million, in the same period of 2024.
We sold 62% more boats in the fourth quarter of 2025 selling 117 in the fourth quarter of 2025 versus 72 boats in the same period of 2024. We believe sales can continue to grow at a higher rate going forward due to an increased broker pool and a larger amount of capital to grow our floor plan and increase the number of boats we can transact.
The Company plans to increase the attachment rate of Azure financing with our boat sales and thereby growing the business internally.
Gross profit was $3.1 million compared to $1.9 million in the same period of 2024. Our gross profit as a percentage of sales increased by 20 basis points. Our boat sales gross profit increased $2.7 million which we believe results from our purchasing team’s skillful buying decisions for our pre-owned boat inventory.
Operating expenses totaled $4.9 million compared to $1.8 million in the same period of 2024. The increase in SG&A primarily reflects investments in go-to-market capacity and public company infrastructure to support substantially higher expected revenue over the next several years.
Floor plan interest expense was $0.578 million compared to $0.482 million for 2024.
Conference Call and Webcast
The Company will host an earnings conference call today, March 30, 2026, at 4:30 P.M. Eastern Time. To participate in the call, please dial (800) 715-9871 (domestic), or (646) 307-1963 (international). The conference passcode is 5863262. This call is being webcast and can be accessed using the conference passcode 5863262, on the Investor Relations section of the company’s website at the earnings call link., or on the company IR page at https://investor.offthehookyachts.com/. The online replay will be available following the call.
About Off The Hook Yachts Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generating platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section entitled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
Contacts:
Company
Chad Corbin
Chief Financial Officer (CFO)
Investor Relations
John Evans
Investor Relations
OFF THE HOOK YS INC.
Consolidated Balance Sheets as of December 31, 2025 and 2024
| December 31, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 12,428,774 | $ | 2,927,126 | ||||
| Accounts receivable, net | 269,938 | 104,317 | ||||||
| Inventory | 26,035,844 | 22,593,422 | ||||||
| Prepaid expense | 706,256 | 2,388,782 | ||||||
| Private label receivable | – | 4,942 | ||||||
| Other current assets | 434,584 | 840,401 | ||||||
| TOTAL CURRENT ASSETS | 39,875,396 | 28,858,990 | ||||||
| NON-CURRENT ASSETS | ||||||||
| Property, plant and equipment, net | 823,231 | 461,709 | ||||||
| Other receivable | 27,486 | 42,192 | ||||||
| Private label receivable | – | 185,550 | ||||||
| Due from related party | 44,623 | 11,313 | ||||||
| Right-of-use assets | 6,516,415 | 1,505,986 | ||||||
| Goodwill | 570,000 | 570,000 | ||||||
| Intangible assets, net | 560,406 | – | ||||||
| TOTAL NON-CURRENT ASSETS | 8,542,161 | 2,776,750 | ||||||
| TOTAL ASSETS | $ | 48,417,557 | $ | 31,635,740 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Accounts payable | $ | 1,471,198 | $ | 962,725 | ||||
| Accrued liabilities | 390,804 | 507,284 | ||||||
| Lease liabilities, current | 963,731 | 382,731 | ||||||
| Line of credit | – | 2,833,400 | ||||||
| Current portion of long-term debt | 32,453 | 137,468 | ||||||
| Due to related party | 315,088 | 1,422,540 | ||||||
| Customer deposits | 1,210,447 | 2,350,219 | ||||||
| Floor plan notes payable | 25,312,694 | 20,595,517 | ||||||
| Other current liabilities | 773,821 | 110,547 | ||||||
| TOTAL CURRENT LIABILITIES | 30,470,236 | 29,302,431 | ||||||
| LONG-TERM LIABILITIES | ||||||||
| Long-term debt, noncurrent | 62,003 | 229,295 | ||||||
| Lease liabilities, noncurrent | 5,650,165 | 1,136,624 | ||||||
| TOTAL LONG-TERM LIABILITIES | 5,712,168 | 1,365,919 | ||||||
| TOTAL LIABILITIES | 36,182,404 | 30,668,350 | ||||||
| STOCKHOLDERS’ EQUITY | ||||||||
| Common stock, with $0.001 par value, 100,000,000 number of common stock authorized, 24,020,000 and 20,000,000 shares of common stock issued and outstanding as of December 31, 2025 and 2024*, respectively | 24,020 | 20,000 | ||||||
| Additional paid-in capital | 17,964,567 | 2,774,944 | ||||||
| Common stock payable | 350,000 | – | ||||||
| Accumulated loss | (6,103,434 | ) | (1,827,554 | ) | ||||
| TOTAL STOCKHOLDERS’ EQUITY | 12,235,153 | 967,390 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 48,417,557 | $ | 31,635,740 | ||||
OFF THE HOOK YS INC.
Consolidated Statements of Operations for the Years Ended December 31, 2025, and 2024
| For the years ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | $ | 119,866,298 | $ | 98,995,562 | ||||
| Cost of revenues | 108,400,082 | 90,214,652 | ||||||
| Gross profit | 11,466,216 | 8,780,910 | ||||||
| Operating expenses: | ||||||||
| Depreciation and amortization | 310,871 | 255,240 | ||||||
| Selling, general and administrative | 2,427,881 | 1,752,325 | ||||||
| Advertising and marketing | 1,162,037 | 489,008 | ||||||
| Professional services | 459,010 | 433,207 | ||||||
| Salaries and wages | 5,775,259 | 2,689,843 | ||||||
| Rent expenses | 868,246 | 477,364 | ||||||
| Total operating expenses | 11,003,304 | 6,096,987 | ||||||
| Income from operations | 462,912 | 2,683,923 | ||||||
| Other income (expenses): | ||||||||
| Interest expense, net | (2,261,241 | ) | (1,622,461 | ) | ||||
| Other income | 214,499 | 22,107 | ||||||
| Other expense | (19,922 | ) | (91,885 | ) | ||||
| Total other expenses | (2,066,664 | ) | (1,692,239 | ) | ||||
| Net (loss) income before income taxes | (1,603,752 | ) | 991,684 | |||||
| Income tax benefit | (131,955 | ) | – | |||||
| Net (loss) income | $ | (1,471,797 | ) | $ | 991,684 | |||
| Basic and diluted net (loss) income per common share | $ | (0.07 | ) | $ | 0.05 | |||
| Basic and diluted weighted average common share outstanding | $ | 20,509,356 | $ | 20,000,000 | ||||
OFF THE HOOK YS INC.
Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, and 2024
| For the years ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities: | ||||||||
| Net (loss) income | $ | (1,471,797 | ) | $ | 991,684 | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Depreciation and amortization | 310,871 | 255,240 | ||||||
| Imputed interest | – | 40,746 | ||||||
| Non-cash lease expense | 84,112 | 8,302 | ||||||
| Stock-based compensation | 1,800,899 | – | ||||||
| Non-cash income tax benefit Changes in operating assets and liabilities: | (132,911 | ) | ||||||
| Accounts receivable | (165,621 | ) | 74,804 | |||||
| Private label receivable | 190,492 | 1,412,228 | ||||||
| Other receivable | 14,706 | 90,034 | ||||||
| Inventory | (3,442,422 | ) | (10,036,610 | ) | ||||
| Prepaid expense | 1,682,526 | 4,755 | ||||||
| Other current assets | 405,817 | (568,275 | ) | |||||
| Due from related parties | (33,310 | ) | (11,313 | ) | ||||
| Accounts payable | 508,473 | 740,541 | ||||||
| Accrued liabilities | 27,269 | 204,722 | ||||||
| Customer deposits | (1,139,772 | ) | (326,216 | ) | ||||
| Other current liabilities | 663,274 | 11,125 | ||||||
| Net cash used in operating activities | (697,394 | ) | (7,108,233 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Capital expenditure of fixed assets | (577,456 | ) | (25,012 | ) | ||||
| Acquisition of intangible assets | (172,432 | ) | – | |||||
| Net cash used in investing activities | (749,888 | ) | (25,012 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from line of credit | 1,308,793 | 1,318,170 | ||||||
| Payment to line of credit | (4,142,193 | ) | (898,998 | ) | ||||
| Member distribution | (2,804,083 | ) | (736,289 | ) | ||||
| Member contribution | 2,644 | 920,969 | ||||||
| Proceed from short-term loan payable | – | 22,188 | ||||||
| Payment to short-term loan payable | – | (1,070,000 | ) | |||||
| Proceed from floorplan notes payables | 77,338,112 | 51,736,268 | ||||||
| Payment to floor plan notes payable | (72,620,935 | ) | (41,935,039 | ) | ||||
| Proceed from long-term debt | 59,429 | 2,820 | ||||||
| Payment to long-term debt | (331,736 | ) | (232,568 | ) | ||||
| Proceed from related-party debt | 2,917 | 1,346,771 | ||||||
| Payment to related party debt | (1,254,118 | ) | (2,068,552 | ) | ||||
| Proceeds from issuance of common stock upon initial public offering | 13,390,100 | |||||||
| Net cash provided by financing activities | 10,948,930 | 8,405,740 | ||||||
| Net change in cash | 9,501,648 | 1,272,495 | ||||||
| Cash and cash equivalents, beginning of period | 2,927,126 | 1,654,631 | ||||||
Non-GAAP Financial Information
To supplement OTH’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, OTH presents certain financial measures that are not prepared in accordance with GAAP, including adjusted EBITDA. These non-GAAP financial measures, which are defined below, should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similarly titled measures presented by other companies.
OTH is presenting these non-GAAP financial measures to assist investors in seeing OTH’s operating results through the eyes of management and because OTH believes that these measures provide a useful tool for investors to use in assessing OTH’s operating performance against prior period operating results and against business objectives. OTH uses non-GAAP financial measures to evaluate its operating results and for financial and operational decision-making.
The accompanying tables provide more detail on the GAAP financial measures that are most directly comparable to the non-GAAP financial measures described above and the related reconciliations between these financial measures.
Adjusted EBITDA
We define and calculate adjusted EBITDA as GAAP net income (loss) before interest income or expense, income tax (benefit) expense, depreciation and amortization, and further adjusted for the items as described in the reconciliation below.
These include, but are not limited to the following:
- non-cash expenses, such as depreciation and amortization and stock-based compensation
- interest expense and income tax expense or benefit
The following tables present a reconciliation of adjusted EBITDA to our net (loss) income, which is the most directly comparable GAAP measure for the periods presented. We believe this information will be useful for investors to facilitate comparisons of our operating performance and identify trends in our business.
| Years Ended December 31, | ||||||||||||
| Description | 2025 | 2024 | Change | |||||||||
| Net (loss) income | $ | (1,471,797 | ) | $ | 991,684 | $ | (2,463,481 | ) | ||||
| Interest expense – other | 21,570 | – | 21,570 | |||||||||
| Income tax benefit | (131,955 | ) | – | (131,955 | ) | |||||||
| Depreciation and amortization | 310,871 | 255,240 | 55,631 | |||||||||
| Stock-based compensation | 1,800,899 | – | 1,800,899 | |||||||||
| Adjusted EBITDA | $ | 529,588 | $ | 1,246,924 | $ | 717,336 | ||||||
Off The Hook Yachts to Announce 2026 Fourth Quarter and Full Year Financial and Operating Results on Monday, March 30, 2026
March 23, 2026
Wilmington, NC, March 23, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: OTH) (“Off the Hook Yachts” or “Off the Hook” or “the Company”), a vertically integrated, AI-powered marine marketplace and the largest buyer and seller of used boats in the nation, will announce its fourth quarter and full-year 2025 financial and operating results on Monday, March 30, 2025, after the market close. The announcement will be followed by a live earnings conference call at 4:30 p.m. Eastern time.
To participate in the call, please dial (800) 715-9871 (domestic), or (646) 307-1963 (international). The conference passcode is 5863262. This call is being webcast and can be accessed using the conference passcode 5863262, on the Investor Relations section of the company’s website at https://investor.offthehookyachts.com/. The online replay will be available for a limited time beginning immediately following the call.
About Off The Hook YS Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, AI-powered marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Contact
Off The Hook YS Inc.
Chad Corbin, Chief Financial Officer
chadcorbin@offthehookys.com
Investor Relations
ir@offthehookys.com
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
Off The Hook to Launch NextBoat AI, an Industry-First AI Matching Platform, at Palm Beach International Boat Show
March 23, 2026
Platform helps consumers identify and acquire their ideal next boat faster and with greater precision using AI-driven matching and proprietary market data
Wilmington, NC, March 23, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: OTH) (“Off the Hook Yachts” or “Off the Hook” or “the Company”), a vertically integrated, AI-powered marine marketplace and the largest buyer and seller of used boats in the nation, today announced it will debut NextBoat AI, a proprietary artificial intelligence platform designed to transform how consumers buy and sell boats, at the Palm Beach International Boat Show, taking place March 25-29.
Originally developed as an internal tool and refined over the past two years across thousands of transactions, NextBoat AI is now being released for public use. The platform leverages Off The Hook Yachts’ extensive proprietary market data, including off-market opportunities, incoming listings, and current inventory, to help consumers identify and find their ideal next boat faster and more accurately than ever before.
Advancing Marketplace Efficiency
NextBoat AI is designed to address one of the marine industry’s core inefficiencies: fragmented inventory discovery and prolonged transaction cycles.
“As we’ve scaled the business, it became clear that our data and transaction flow represented a significant competitive advantage,” said Blake Phillips, COO of Off The Hook Yachts. “By aligning buyer intent with both visible and non-visible supply, the platform enhances liquidity across Off The Hook’s ecosystem-connecting buyers and sellers faster and more intelligently than traditional brokerage models allow.”
How NextBoat AI Works
Consumers simply input details about their current vessel and their desired next purchase. NextBoat AI then analyzes Off The Hook Yachts’ pipeline of proprietary data. Using artificial intelligence, the system generates real-time matches and presentations tailored to the user’s preferences. As new opportunities enter the pipeline, the platform continues to refine and present additional matches until the ideal vessel is identified.
“This is a completely new way to shop for your next boat,” Phillips added. “There is nothing like it in the industry.”
Live Demonstration at Show
Attendees of the Palm Beach International Boat Show can experience the technology firsthand at an industry-first interactive display, featuring large 50-inch touchscreen stations where visitors can explore the platform alongside Off The Hook’s team. The experience will take place in a relaxed lounge-style setting with music, refreshments, and live demonstrations.
The NextBoat AI experience will be located at the North Entrance of the Palm Beach International Boat Show, near Dock E.
Attendees are invited to stop by, explore the technology, meet Off The Hook’s team, and discover how AI is changing the way people buy their next boat.
Boat Show Giveaway
To celebrate the launch, visitors who experience NextBoat AI at the show will be automatically entered for a chance to win a brand-new Sea-Doo Spark 2-Seater.
The winner will be announced via livestream on Off The Hook Yachts’ Facebook and Instagram pages at the conclusion of the show on Sunday, March 29, at 5:00 PM.
About Off The Hook YS Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, AI-powered marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Contact
Investor Relations
ir@offthehookys.com
Dave Gentry
RedChip Companies Inc.
1-800-REDCHIP (733-2447)
1-407-644-4256
OTH@redchip.com
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
This release first appeared on the OTH Investor Website.
Off The Hook Yachts Expands Mid-Atlantic Presence with Strategic Waterfront Hub to Increase Inventory Velocity and Margin Capture
March 18, 2026
Strengthens footprint in high-volume Chesapeake Bay market
Adds 150 boat storage capacity, reducing third-party costs
Enhances inventory sourcing, reconditioning, and transaction efficiency
Wilmington, NC, March 18, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: OTH) (“Off the Hook Yachts” or “Off the Hook” or “the Company”), a vertically integrated, AI-powered marine marketplace and the largest buyer and seller of used boats in the nation, today announced the acquisition of a strategic waterfront property on the Chesapeake Bay, one of the most active boating corridors in the United States. The acquisition will serve as the Company’s new Mid-Atlantic operational hub in a high-density marine market while expanding capabilities for inventory reconditioning, storage, financing, and asset recovery.
“The Piney Narrows location in Kent Island, Maryland, gives us exactly what we need to scale our Mid-Atlantic operations,” said Jason Ruegg, Founder of Off The Hook Yachts. “With direct water access, high visibility, and the ability to store and manage a significant amount of inventory on our own property, this facility dramatically improves efficiency while positioning us for long-term growth.”
A major component of the acquisition is the site’s extensive storage capacity. The property can accommodate up to 150 boats, allowing Off the Hook to house a large portion of its regional inventory on site. Previously, the Company relied on third-party storage at an average cost of approximately $500 per boat per month, a recurring expense that will now be largely eliminated through ownership of the property.
“Bringing inventory together in one place allows us to inspect, prepare, and position boats for resale more efficiently, giving customers access to ready-to-go pre-owned boats and yachts faster than through the traditional brokerage process,” Ruegg added. “Importantly, our proprietary technology platform allows us to match real buyer demand with inventory across the country in real time. We’re not constrained by local supply. We can source inventory off-market, position it where demand is strongest, and turn it faster-this facility is another key node in that
network.”
The property offers significant strategic advantages for Off the Hook’s growing operations. Located along a high-traffic waterfront corridor on the Chesapeake Bay, the site provides immediate water access and integrated infrastructure for vessel launch, retrieval, and servicing, including proximity to a public boat ramp and haul-out facilities.
The property includes four office buildings that will support multiple divisions within the Off the Hook ecosystem, including brokerage, logistics, and Azure Funding, the Company’s in-house marine finance platform, enabling customers to access financing and related services directly on site.
Off the Hook plans to staff the facility with 15-20 yacht brokers focused on sourcing inventory, managing brokerage and consignment listings, and facilitating transactions. The site will also serve as a regional logistics center, supporting efficient inventory movement and transaction execution.
“This acquisition gives us control of critical infrastructure in a highly active boating market, which is difficult to replicate and increasingly valuable as we scale,” said Brian John, Chief Executive Officer of Off The Hook Yachts. “With this facility, we expect to drive a meaningful increase in annual transaction volume while realizing additional cost savings, driven by expanded strategic facility ownership and broader operating efficiencies.”
The Piney Narrows facility is expected to begin operating as Off the Hook’s primary Maryland hub in the coming months.
About Off The Hook YS Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, AI-powered marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Contact
Investor Relations
ir@offthehookys.com
Dave Gentry
RedChip Companies Inc.
1-800-REDCHIP (733-2447)
1-407-644-4256
OTH@redchip.com
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
Off The Hook to Participate in the 38th Annual ROTH Conference
March 16, 2026
Wilmington, NC, March 16, 2026 (GLOBE NEWSWIRE) — Off The Hook YS Inc. (NYSE American: OTH) (“Off the Hook Yachts” or “Off the Hook” or “the Company”), a vertically integrated, AI-powered marine marketplace and the largest buyer and seller of used boats in the nation, today announced that management will participate in the 38th Annual ROTH Conference, taking place March 22-24, 2026, in Dana Point, California.
Members of Off The Hook’s executive management team will host one-on-one meetings with institutional investors throughout the conference to discuss the Company’s strategy to transform the marine brokerage market through its vertically integrated, AI-powered marketplace that integrates direct boat acquisition, brokerage, online auctions, and in-house marine financing to accelerate transaction velocity and capture margin across the marine transaction lifecycle.
The ROTH Conference is one of the premier events for small-cap companies and institutional investors, bringing together executive management teams from hundreds of public and private companies across a wide range of growth sectors for presentations, fireside chats, and one-on-one investor meetings.
Investors interested in meeting with Off The Hook during the conference should contact their ROTH representative to request a meeting.
About Off The Hook YS Inc.
Founded in 2012, Off The Hook YS Inc. is a vertically integrated, AI-powered marine marketplace transforming how boats are bought, sold, and financed across the United States. Leveraging proprietary technology, deep transaction data, and a national acquisition network, the Company increases speed, transparency, and inventory velocity across boat brokerage, wholesale trading, auctions, financing, and marine services, with an integrated ecosystem that includes Autograph Yacht Group, Azure Funding, and proprietary lead-generation platforms. Headquartered in Wilmington, North Carolina, Off The Hook is rapidly expanding its national footprint and market share within the $57 billion U.S. marine industry.
Contact
Investor Relations
ir@offthehookys.com
Dave Gentry
RedChip Companies Inc.
1-800-REDCHIP (733-2447)
1-407-644-4256
OTH@redchip.com
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Off The Hook YS Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Off The Hook YS Inc. undertakes no duty to update such information except as required under applicable law.
Factory-Backed Engine & Vessel Warranty Options for Boat Owners With Off The Hook Yachts
Owning a boat should be about time on the water and peace of mind throughout the ownership experience.
That is why Off The Hook Yachts offers access to factory-backed engine warranties and extended vessel protection plans through trusted marine partners such as Yamaha, Mercury, and leading global marine protection providers.
Many owners are surprised to learn that coverage options may still be available even after the original purchase of a boat. Whether you recently purchased your vessel, bought pre-owned, or simply want to explore extending protection, our team can help determine which plans your boat may qualify for.
We handle the details, confirm eligibility, coordinate inspections when required, and present clear options so you can make the best decision for your vessel.
Check Your Vessel Eligibility
If you would like to explore warranty and protection options for your boat, simply provide a few details about your vessel and engines. Our team will review available coverage plans and follow up with options and pricing when applicable.
Wilmington’s Off The Hook Yachts To Acquire Florida Firm For $5.5M
Wilmington-headquartered Off the Hook Yachts plans to acquire a South Florida mrine service, storage and sales company, a move that could boost Off the Hook’s revenue by $30 million.
Off the Hook, a vertically integrated, AI-powered marine marketplace, announced in a news release late last week that it has signed a definitive agreement to acquire the Apex Marine Group of Companies (APEX). Off the Hook officials said in the…..
Read The Full Article by clicking here.
Off The Hook Yachts to acquire Apex Marine Group
Online marine marketplace Off The Hook Yachts has announced it has signed a definitive agreement to acquire marine, service and storage company, Apex Marine Group.
The acquisition is expected to close in 60 days, pending customary due diligence, with the deal valued at $5.5 million, with $1.83 million in cash, approximately 670,000 shares valued at $2.70…
Read the full release on SuperYacht Times website by clicking here.