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8-K - CURRENT REPORT - RumbleOn, Inc. | rmbl_8k.htm |
Exhibit 99.1
RumbleOn, Inc. Announces Proposed Public Offering
Charlotte,
NC, July 17, 2018 –RumbleOn, Inc. (Nasdaq:
RMBL) (the “Company”), a disruptive
e-commerce platform facilitating, in one online location, the
ability of consumers and dealers to buy, sell, trade, and finance
pre-owned vehicles with an emphasis on motorcycles and other
powersports, today
announced that it is proposing to offer and sell, subject to market
conditions, shares of its Class B Common Stock in an underwritten
public offering. The Company expects to grant the underwriter a
45-day option to purchase up to an additional 15 percent of the
shares of Class B Common Stock offered in the public offering to
cover over-allotments, if any. All of the Class B Common Stock is
being offered by the Company. RumbleOn
intends to use the net proceeds from the offering for working
capital and general corporate purposes, which may include purchases
of additional inventory held for sale, increased spending on
marketing and advertising and capital expenditures necessary to
grow the business. The final terms of the offering will depend on
market and other conditions at the time of pricing, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the
offering.
National
Securities Corporation, a wholly owned subsidiary of National
Holdings Corporation (NasdaqCM:NHLD) is acting as sole book running
manager for the offering.
A shelf
registration statement relating to the shares of Class B Common
Stock being offered was filed with the U.S. Securities and Exchange
Commission (SEC) on Form S-3 (Reg. No. 333-225217) and was declared
effective by the SEC on June 6, 2018. Any offer will be made only
by means of a prospectus supplement and accompanying base
prospectus forming a part of the effective registration statement.
Copies of the preliminary prospectus supplement and the
accompanying base prospectus relating to the offering may be
obtained by request to the offices of National Securities
Corporation, Attn: Marguerite Rogers, Sr. Vice President, 200 Vesey
St, 25th
Floor, New York, NY 10281, Telephone: (212)-417-8227; Email:
prospectusrequest@nationalsecurities.com;or
on the SEC’s website at http://www.sec.gov.
A final
prospectus supplement describing the terms of the offering will be
filed with the SEC. 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 is not permitted.
About RumbleOn, Inc.
RumbleOn, Inc. (RMBL) operates a capital
light disruptive e-commerce platform facilitating the ability of
both consumers and dealers to Buy-Sell-Trade-Finance pre-owned
vehicles in one online location. RumbleOn’s goal is to
transform the way pre-owned 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 VIN-specific pre-owned vehicles with an emphasis on
motorcycles and other powersports. Serving both consumers and
dealers, through its 100% online marketplace platform, RumbleOn
makes cash offers for the purchase of pre-owned vehicles. In
addition, RumbleOn offers a large inventory of pre-owned 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.
Cautionary Note on Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities
Litigation Reform Act of 1995 regarding the proposed offering and
the intended use of proceeds from the offering. The offering is
subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which are based on our expectations as of the date of
this press release and speak only as of the date of this press
release and are advised to consider the factors listed above
together with the additional factors under the heading
“Forward-Looking Statements” and “Risk
Factors” in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2017, as may be supplemented or
amended by the Company’s Quarterly Reports on Form 10-Q and
other filings with the SEC. We undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise, except as required
by law.
Investor Relations:
Megan Harris (Investors)
ICR
RumbleOn@icrinc.com
203-682-8334
Source: RumbleOn, Inc.