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EX-99.2 - PRESENTATION - RumbleOn, Inc. | rmbl_ex992.htm |
8-K - CURRENT REPORT - RumbleOn, Inc. | rmbl_8k.htm |
Exhibit 99.1
RumbleOn, Inc. Announces Pricing of Public Offering
of its Class B Common Stock
Charlotte,
NC, July 18, 2018 – RumbleOn, Inc. (Nasdaq:
RMBL) (the “Company”), a disruptive
e-commerce platform facilitating, in one online location, the
ability of consumers and dealers to buy, sell, trade, and finance
pre-owned vehicles with an emphasis on motorcycles and other
powersports, today
announced the pricing of its previously announced underwritten
public offering. The Company is
offering 2,025,000 shares of its Class B Common Stock, par value
$0.001 per share, at a price to the public of $6.05 per share. In
connection with the offering, the Company has also granted the
underwriter a 45-day option to purchase up to an additional 303,750
shares of Class B Common Stock offered in the public offering to
cover over-allotments, if any.
National
Securities Corporation, a wholly owned subsidiary of National
Holdings Corporation (NasdaqCM:NHLD) is acting as sole book running
manager for the offering.
The
Company expects to receive gross proceeds from the offering,
excluding the exercise of the over-allotment option, if any, of
approximately $12.3 million, excluding underwriting discounts and
commissions and other offering-related expenses. Assuming the full
exercise of the over-allotment option, the gross proceeds may reach
$14.1 million.
The
Company intends to use the net proceeds from the offering for
working capital and general corporate purposes, which may include
purchases of additional inventory held for sale, increased spending
on marketing and advertising and capital expenditures necessary to
grow the business.
The
offering is expected to close on July 20, 2018, subject to
customary closing conditions.
A shelf
registration statement relating to the shares of Class B Common
Stock being offered was filed with the U.S. Securities and Exchange
Commission (SEC) on Form S-3 (Reg. No. 333-225217) and was declared
effective on June 6, 2018. Any offer will be made only by means of
a prospectus supplement and accompanying base prospectus forming a
part of the effective registration statement. Copies of the final
prospectus supplement, when available, and the accompanying base
prospectus relating to the offering may be obtained by request to
the offices of National Securities Corporation, Attn: Marguerite
Rogers, Sr. Vice President, 200 Vesey St, 25th Floor, New York, NY
10281, Telephone: (212)-417-8227; Email: prospectusrequest@nationalsecurities.com;
or the on the SEC’s website at
http://www.sec.gov.
A final
prospectus supplement describing the terms of the offering will be
filed with the SEC. This press
release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or
sale is not permitted.
RumbleOn, Inc. (RMBL) operates a capital
light disruptive e-commerce platform facilitating the ability of
both consumers and dealers to Buy-Sell-Trade-Finance pre-owned
vehicles in one online location. RumbleOn’s goal is to
transform the way pre-owned vehicles are bought and sold by
providing users with the most efficient, timely and transparent
transaction experience. RumbleOn’s initial focus is the
market for VIN-specific pre-owned vehicles with an emphasis on
motorcycles and other powersports. Serving both consumers and
dealers, through its 100% online marketplace platform, RumbleOn
makes cash offers for the purchase of pre-owned vehicles. In
addition, RumbleOn offers a large inventory of pre-owned vehicles
for sale along with third-party financing and associated
products. For additional information, please visit
RumbleOn’s website at www.RumbleOn.com.
Also visit the Company on Facebook, LinkedIn, Twitter, Instagram,
YouTube and Pinterest.
Cautionary Note on Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities
Litigation Reform Act of 1995 regarding the proposed offering and
the intended use of proceeds from the offering. The offering is
subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are based on our expectations as of the date of
this press release and speak only as of the date of this press
release and are advised to consider the factors listed above
together with the additional factors under the heading
“Forward-Looking Statements” and “Risk
Factors” in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2017, as may be supplemented or
amended by the Company’s Quarterly Reports on Form 10-Q and
other filings with the SEC. We undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise, except as required
by law.
Investor Relations:
Megan Harris (Investors)
ICR
RumbleOn@icrinc.com
203-682-8334
SOURCE RumbleOn, Inc.