American Rebel Holdings, Inc. Announces Closing of $10.5 Million Public Offering
February 09 2022 - 4:05PM
American Rebel Holdings, Inc., (NASDAQ:AREB)(NASDAQ:AREBW) (the
“Company,” "American Rebel,” “we,” “our” or “us”), a designer and
marketer of branded safes and personal security, and self-defense
products, announced today the closing of its previously
announced underwritten public offering of 2,530,121 units (the
“Common Units”), at a price to the public of $4.15 per Common Unit,
for aggregate gross proceeds of approximately $10.5 million, prior
to deducting underwriting discounts, commissions, and other
estimated offering expenses. Each Common Unit consists of one share
of common stock, par value $0.001 per share (the “Common Stock”),
and one warrant to purchase one share of Common Stock (each a
“Warrant” and collectively the “Warrants”). The Common Stock and
Warrants are immediately separable from the Common Units and will
be issued and traded separately. The Warrants are exercisable
immediately, expire five years from the date of issuance and will
have an exercise price of $5.1875 per share.
The Company intends to use the net proceeds from
this offering to repay various outstanding indebtedness and for
general corporate purposes, including working capital, increased
research and development expenditures and funding its growth
strategies.
In addition, the Company has granted the
underwriters a 45-day option to purchase up to an additional
379,518 shares of Common Stock and/or Warrants to purchase 379,518
shares of Common Stock, or any combination thereof, to cover
over-allotments, if any.
EF Hutton, division of Benchmark Investments,
LLC, acted as sole book-running manager for the offering.
A registration statement on Form S-1 (File No.
333-260646) relating to these securities was filed with the U.S.
Securities and Exchange Commission (the "SEC") and declared
effective by the SEC on February 4, 2022. A final prospectus
relating to the offering was filed with the SEC and is available on
the SEC’s website at http://www.sec.gov. Electronic copies of the
final prospectus relating to this offering, when available, may be
obtained from EF Hutton, division of Benchmark Investments, LLC, at
590 Madison Avenue, 39th Floor, New York, NY 10022, Attention:
Syndicate Department, or via email
at syndicate@efhuttongroup.com or telephone at (212)
404-7002. Investors may also obtain these documents at no cost by
visiting the SEC's website at
https://www.sec.gov.
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 would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About American Rebel Holdings,
Inc.
American Rebel operates primarily as a designer
and marketer of branded safes and personal security and
self-defense products. The Company also designs and produces
branded apparel and accessories. To learn more, visit
www.americanrebel.com. For investor information, visit
www.americanrebel.com/investor-relations.
Cautionary Note Regarding
Forward-Looking Statements:This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. American Rebel Holdings,
Inc., (NASDAQ:AREB)(NASDAQ:AREBW) (the “Company,” "American Rebel,”
“we,” “our” or “us”) desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "forecasts" "believe," "may,"
"estimate," "continue," "anticipate," "intend," "should," "plan,"
"could," "target," "potential," "is likely," "will," "expect" and
similar expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements primarily on our current expectations and projections
about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy,
and financial needs. Important factors that could cause actual
results to differ from those in the forward-looking statements
include our current reliance on a sole manufacturer and supplier
for the production of our safes, our manufacturing partner’s
ability to meet production demands, our ability to expand our sales
organization to address existing and new markets that we intend to
target, our ability to effectively compete in a competitive
industry, and the Risk Factors contained within our filings with
the SEC, including our Annual Report on Form 10-K for the year
ended December 31, 2020. Any forward-looking statement made by us
herein speaks only as of the date on which it is made. Factors or
events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
Company Contact:Charles A.
Ross, Jr.CEOAmerican Rebel Holdings, Inc.info@americanrebel.com
SOURCE: American Rebel
Holdings, Inc.
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