American Rebel Holdings Announces Pricing of $13.0 Million Private Placement Priced At-the-Market Per Nasdaq Rules
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Nashville, TN, July 07, 2022 (GLOBE NEWSWIRE) -- 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 that it has entered into a securities purchase agreement with a single institutional investor to raise approximately $13.0 million through the private placement of 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) is being 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 closing of the private placement is expected to occur on July 12, 2022, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreement.
The Company intends to use the net proceeds from the private placement primarily to fund the previously announced planned acquisition of the Champion Safe companies, as well as for general working capital and administrative purposes.
EF Hutton, division of Benchmark Investments, LLC, is acting 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 (the “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.