RumbleOn Announces Preliminary Results of $10.0 Million Fully Backstopped Registered Rights Offering

Provided By PR Newswire

Last update: Dec 13, 2024

IRVING, Texas, Dec. 13, 2024 /PRNewswire/ -- RumbleOn, Inc. (NASDAQ: RMBL) (the "Company," "RumbleOn," "we," "us," or "our") today announced the preliminary results of its $10.0 million fully backstopped registered equity rights offering (the "Rights Offering") for shares of the Company's Class B common stock, par value $0.001 per share (the "Class B common stock"). The subscription period for the Rights Offering expired at 5:00 p.m. Eastern Time, on December 12, 2024 (the "Expiration Time"). The Rights Offering resulted in subscriptions to purchase 2,043,011 shares of Class B common stock at a price of $4.18 per share (the "Subscription Price"). The shares of Class B common stock subscribed for are expected to be issued to participating stockholders on or about December 17, 2024.