American Rebel Holdings Announces Pricing of $3.0 Million Private Placement Priced At-the-Market Per Nasdaq Rules
28 Giugno 2023 - 2:15PM
American Rebel Holdings, Inc. (NASDAQ: AREB) (NASDAQ: AREBW) (the
“Company,” "American Rebel,” “we,” “our” or “us”), a designer,
manufacturer 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 $3.0 million through the private
placement of 686,499 shares of common stock (or pre-funded warrants
in lieu thereof), and warrants to purchase 686,499 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 $4.37. The warrants will be
immediately exercisable from the date of issuance at an initial
exercise price of $4.24 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 June 30, 2023, 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 for general working capital and
administrative purposes.
EF Hutton, a 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,
manufacturer 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
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