RumbleOn Prices Underwritten Offering of Class B Common Stock
October 19 2017 - 8:28AM
RumbleOn, Inc. (the “Company” or “RumbleOn”)
(NASDAQ:RMBL) today announced the pricing of an underwritten public
offering of 2,910,000 shares of its Class B common stock at a price
of $5.50 per share. The Company has also granted the
underwriters a 30-day option to purchase up to 436,500 additional
shares of Class B common stock. After the underwriting
discount and estimated offering fees and expenses payable by the
Company, RumbleOn expects to receive net proceeds of approximately
$14.5 million, assuming no exercise of the overallotment
option. The offering is expected to close on October 23,
2017, subject to the satisfaction of customary closing conditions.
Additionally, RumbleOn’s Class B common stock has been approved
for listing on The NASDAQ Capital Market (“NASDAQ”) and the
Company’s shares will begin trading on NASDAQ at the opening of
trading on Thursday, October 19, 2017, under the Company’s current
symbol “RMBL.”
Roth Capital Partners and Maxim Group LLC are acting as joint
book-running managers for the offering. Aegis Capital Corp. is
acting as co-manager for the offering.
The offering is being made only by means of a prospectus.
Copies of the prospectus may be obtained from Roth Capital
Partners, 888 San Clemente Drive, Suite 400, Newport Beach, CA
92660, or by telephone at (800) 678-9147; from Maxim Group, Attn:
Eileen Citarrella, 405 Lexington Avenue, 2nd Floor, New York, NY
10174 or by telephone at (212) 895-3745, or by email
at ecitarrella@maximgrp.com; or by accessing the SEC’s
website, www.sec.gov.
A Registration Statement on Form S-1 (as amended, the
“Registration Statement”) relating to these securities has been
filed with, and declared effective by, the United States Securities
and Exchange Commission (“SEC”). Copies of the Registration
Statement can be accessed through the SEC’s website
at www.sec.gov. This press release does not constitute
an offer to sell or a solicitation of an offer to buy, nor will
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of that
state or jurisdiction.
About RumbleOnRumbleOn operates a capital light
disruptive e-commerce platform facilitating the ability of both
consumers and dealers to Buy-Sell-Trade-Finance pre-owned
motorcycle and other power sport and recreation vehicles in one
online location. RumbleOn’s goal is to transform the way
motorcycles and other power sport and recreation 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 601cc and larger on-road motorcycles,
particularly those concentrated in the “Harley-Davidson”
brand. Serving both consumers and dealers, through its online
platform, RumbleOn makes cash offers for the purchase of their
vehicles and intends to provide them the flexibility to trade,
list, or auction their vehicle through RumbleOn’s website and
mobile applications. In addition, RumbleOn offers a large inventory
of used 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.
Forward-Looking StatementsThis press release
contains “forward-looking statements” within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include
statements relating to the offering, including the timing of the
closing of the offering. The Company cautions that these
statements are qualified by important factors that could cause
actual results to differ materially from those reflected by the
forward-looking statements contained in this press release.
Such factors include the “Risk Factors” set forth in the Company’s
most recent SEC filings and in the Registration Statement.
All forward-looking statements are based on information available
to the Company on the date of this press release and the Company
assumes no obligation to update such statements, except as required
by law.
ContactAlecia Pulman (Media) /Megan Crudele
(Investors)ICRRumbleOn@icrinc.com 646-277-1200
Source: RumbleOn, Inc.
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