CHARLOTTE, N.C., Oct. 19, 2017 (GLOBE NEWSWIRE) -- RumbleOn, Inc. (NASDAQ:RMBL) today announced the pricing of an underwritten public offering of 2,910,000 shares of its Class B common stock at a price of $5.50 per share. The Company has also granted the underwriters a 30-day option to purchase up to 436,500 additional shares of Class B common stock. After the underwriting discount and estimated offering fees and expenses payable by the Company, RumbleOn expects to receive net proceeds of approximately $14.5 million, assuming no exercise of the overallotment option. The offering is expected to close on October 23, 2017, subject to the satisfaction of customary closing conditions.
Additionally, RumbleOn’s Class B common stock has been approved for listing on The NASDAQ Capital Market (“NASDAQ”) and the Company’s shares will begin trading on NASDAQ at the opening of trading on Thursday, October 19, 2017, under the Company’s current symbol “RMBL.”
Roth Capital Partners and Maxim Group LLC are acting as joint book-running managers for the offering. Aegis Capital Corp. is acting as co-manager for the offering.
About RumbleOn
RumbleOn operates a capital light disruptive e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell-Trade-Finance pre-owned motorcycle and other power sport and recreation vehicles in one online location. RumbleOn’s goal is to transform the way motorcycles and other power sport and recreation 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 601cc and larger on-road motorcycles, particularly those concentrated in the “Harley-Davidson” brand. Serving both consumers and dealers, through its online platform, RumbleOn makes cash offers for the purchase of their vehicles and intends to provide them the flexibility to trade, list, or auction their vehicle through RumbleOn’s website and mobile applications. In addition, RumbleOn offers a large inventory of used 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.
