American Rebel Holdings Announces Closing of $13.0 Million Private Placement
July 12 2022 - 4:00PM
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, today announced the closing of its previously announced
private placement of common stock (or pre-funded warrants in lieu
thereof) and warrants.
Under the terms of the securities purchase
agreement, the Company sold 11,711,712 shares of common stock (or
pre-funded warrants in lieu thereof), and warrants to purchase
23,423,424 shares of common stock. Each share of common stock (or
pre-funded warrant in lieu thereof) was sold together with
accompanying warrants at a combined effective purchase price of
$1.11. The warrants will be immediately exercisable from the date
of issuance at an initial exercise price of $0.86 per share,
subject to adjustments as set forth therein, and will expire five
years from the date of issuance.
The Company intends to use the net proceeds from
the private placement primarily to fund the planned acquisition of
Champion Safe Company, as well as for general working capital and
administrative purposes. Andy Ross, Chief Executive Officer of the
Company, said, “We are excited to bring the Champion name into the
American Rebel family. Founded in 1999 by Ray Crosby, Champion has
three safe lines – Champion Safe, Superior Safe and Safe Guard
Security Products. The American Rebel team is very eager to work
with Ray and his team and move the Company forward.”
EF Hutton, division of Benchmark Investments,
LLC, acted as exclusive placement agent for the offering.
The shares of common stock, pre-funded warrants,
and warrants described above have not been registered under the
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration with the Securities and
Exchange Commission (SEC) or an applicable exemption from such
registration requirements. The securities were offered only to
accredited investors. Pursuant to a registration rights agreement
with the investors, the Company has agreed to file one or more
registration statements with the SEC covering the resale of the
shares of common stock and the shares issuable upon exercise of the
pre-funded warrants and warrants.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such 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," "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 ability to raise sufficient funds to close the
acquisition, 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, 2021. 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:info@americanrebel.com
Investor Relations:John
McNamaraTraDigital IR917-658-2605john@tradigitalir.com
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