Lazydays (LAZY) is the second or third largest RV dealer in the fragment US RV dealership industry. Camping World (CWH) is the largest with ~20% market share. 2019 was a rough year for the industry. Following a decade long run of double-digit sales growth for the RV industry, inventories got too high in 2019 which led to industry wide discounting which impacted margins.
Source: RV industry Association
LAZY has 9.8M common shares out plus a $60M convertible preferred with a $10.06 conversion price that pays 8%. LAZY effectively has 15.8M shares out plus 4.6M in