PartnershipJul 1, 2026, 08:12 AM
NextBoat Partners with MarineMax for AI Platform Rollout & Revenue Share
AI Summary
NextBoat Inc. (formerly OFF THE HOOK YS INC.) announced a strategic partnership and revenue sharing agreement with MarineMax, Inc., the world's largest recreational boat and yacht retailer. The agreement involves MarineMax adopting NextBoat's AI platform for pre-owned vessel transactions, financing, and insurance services. As part of the deal, NextBoat will issue warrants to MarineMax for up to 1,250,000 shares with exercise prices ranging from $3.25 to $7.00. This five-year partnership is expected to accelerate the growth of NextBoat's marketplace, data, and financing businesses, establishing it as MarineMax's preferred wholesale and trade-in partner.
Key Highlights
- NextBoat Inc. entered a Strategic Partnership and Revenue Sharing Agreement with MarineMax, Inc. on June 25, 2026.
- NextBoat will issue warrants to MarineMax for up to 1,250,000 shares of common stock.
- Warrant exercise prices range from $3.25 to $7.00 per share, subject to vesting terms.
- The Partnership Agreement has an initial term of five years.
- MarineMax will adopt the NextBoat AI platform for pre-owned vessel transactions, financing, and insurance.
- Insurance revenue split is initially 50%/50% (NextBoat/MarineMax), adjusting to 20%/80% after $75,000,000 annual wholesale volume.
- Financing revenue split is initially 50%/50% (NextBoat/MarineMax), adjusting to 60%/40% after $500,000 cumulative Financing Income.
- Wholesale volume rebates are calculated on a tiered, marginal basis based on annual wholesale volume.
Price Impact
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