MCFT · MasterCraft Boat Holdings, Inc.

MasterCraft Boat Holdings held a special stockholder meeting on May 12, 2026, to vote on key proposals tied to its proposed merger with Marine Products Corporation under the February 5, 2026 Merger Agreement. The overwhelming approval of the Share Issuance Proposal, with over 99% of votes in favor (13.7 million For versus just 6,290 Against), clears a critical shareholder condition for the dual merger structure: Merger Sub 1 merging into Marine Products (with Marine Products surviving as MasterCraft's subsidiary), followed immediately by Marine Products merging into Merger Sub 2. This strong support signals robust investor backing for the stock-and-cash combination, reducing execution risk significantly. Combined with the HSR Act waiting period expiration on April 6, 2026, which satisfied antitrust clearance, the path to closing is now narrowed to remaining conditions in the Merger Agreement. The company anticipates consummation on or about May 15, 2026, positioning investors for near-term realization of the strategic combination's benefits, though subject to final waivers or fulfillments. The adjournment proposal's irrelevance underscores the vote's decisiveness, minimizing procedural delays.