Business
American Rebel Holdings Announces Closing of $3.0 Million Private Placement
Nashville, TN, June 30, 2023 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB; AREBW) (the “Company,” "American Rebel,” “we,” “our” or “us”), a
About this update from American Rebel Holdings, Inc.
[{"type":"text","content":"Nashville, TN, June 30, 2023 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB; 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 the closing of its previously announced private placement of common stock (or pre-funded warrants in lieu thereof) and warrants. Under the terms of the securities purchase agreement, the Company sold 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) was 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 Company intends to use the net proceeds from the private placement primarily for general working capital and administrative purposes. EF Hutton, division of Benchmark Investments, LLC, acted 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 (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 an...