RumbleOn Launches $10 Million Rights Offering-March 2024-www.financetom.com

RumbleOn Launches $10 Million Rights Offering

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RumbleOn Launches $10 Million Rights Offering

Nov 26, 2024 3:13 PM

05:53 PM EST, 11/26/2024 (MT Newswires) -- RumbleOn ( RMBL ) said late Tuesday it launched a $10 million fully backstopped registered equity rights offering.

The company is distributing nontransferable subscription rights to the holders of its class A and B common shares to purchase up to 2,392,344 class B shares at $4.18 apiece. Each subscription right entitles the holder to purchase 0.0677 class B shares, the company said.

The offering is scheduled to expire Dec. 12.

RumbleOn ( RMBL ) said it plans to use the proceeds for general corporate purposes, among other things.

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