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EX-3.1 - CERTIFICATE OF CHANGE - RumbleOn, Inc. | rmbl_ex31.htm |
8-K - CURRENT REPORT - RumbleOn, Inc. | rmbl_8k.htm |
Exhibit 99.1
RumbleOn, Inc. Announces Reverse Stock Split
of Class A Common Stock and Class B Common Stock
MAY 19, 2020
DALLAS--(BUSINESS WIRE)-- RumbleOn, Inc (NASDAQ:
RMBL), the e-commerce company using innovative technology to
simplify how dealers and consumers buy, sell, trade or finance
pre-owned vehicles, today announced it will effect a one-for-twenty reverse stock
split of its issued and outstanding Class A Common Stock and Class
B Common Stock. Pursuant to the Certificate of Change filed with
the Secretary of State of the State of Nevada, the reverse stock
split will be effective at 12:01 a.m., Eastern Time, on May 20,
2020. RumbleOn expects that upon the opening of trading on May 20,
2020, its Class B Common Stock will trade on the Nasdaq Capital
Market on a split-adjusted basis under the current trading symbol
“RMBL” and the new CUSIP number 781386
305.
No fractional shares will be issued as a result of the reverse
stock split. Any fractional shares that would result from the
reverse stock split will be rounded up to the nearest whole share.
Following the reverse stock split, RumbleOn will have outstanding
50,000 shares of Class A Common Stock and approximately 2,162,696
shares of Class B Common Stock.
Shareholders of record are not required to send in their current
stock certificates or evidence of book-entry or other electronic
positions for exchange. Following the effectiveness of the reverse
stock split, each stock certificate and book-entry or other
electronic position representing issued and outstanding shares of
RumbleOn's common stock will be automatically adjusted. Those
shareholders holding common stock in "street name" will receive
instructions from their brokers if they need to take any action in
connection with the reverse stock split.
About RumbleOn
RumbleOn (NASDAQ: RMBL) is an e-commerce company that uses
innovative technology to simplify how dealers and customers buy,
sell, trade, or finance pre-owned vehicles through RumbleOn’s
100% online marketplace. Leveraging its capital-light network of 17
regional partnerships and innovative technological solutions,
RumbleOn is disrupting the old-school pre-owned vehicle supply
chain by providing users with the most efficient, timely and
transparent transaction experience. For more information, please
visit http://www.rumbleon.com.
Cautionary note regarding forward looking statements
This press release may contain “forward-looking
statements” as that term is defined under the Private
Securities Litigation Reform Act of 1995 (PSLRA), which statements
may be identified by words such as “expects,”
“projects,” “will,” “may,”
“anticipates,” “believes,”
“should,” “intends,”
“estimates,” and other words of similar meaning.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which are based on the Company’s
expectations as of the date of this report and speak only as of the
date of this report and are advised to consider the factors listed
under the heading “Forward-Looking Statements” and
“Risk Factors” in the Company’s SEC filings, as
may be updated and amended from time to time. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Contact:
Investor Relations:
The Blueshirt Group
Whitney Kukulka
investors@rumbleon.com
Source: RumbleOn, Inc.