Business
American Rebel Holdings, Inc. Announces Closing of $10.5 Million Public Offering
NASHVILLE, TN, Feb. 09, 2022 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc., (NASDAQ:AREB)(NASDAQ:AREBW) (the “Company,” "American Rebel,” “we,” “our” or
About this update from American Rebel Holdings, Inc.
[{"type":"text","content":"NASHVILLE, TN, Feb. 09, 2022 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc., (NASDAQ:AREB)(NASDAQ:AREBW) (the “Company,” \"American Rebel,” “we,” “our” or “us”), a designer and marketer of branded safes and personal security, and self-defense products, announced today the closing of its previously announced underwritten public offering of 2,530,121 units (the “Common Units”), at a price to the public of $4.15 per Common Unit, for aggregate gross proceeds of approximately $10.5 million, prior to deducting underwriting discounts, commissions, and other estimated offering expenses. Each Common Unit consists of one share of common stock, par value $0.001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock (each a “Warrant” and collectively the “Warrants”). The Common Stock and Warrants are immediately separable from the Common Units and will be issued and traded separately. The Warrants are exercisable immediately, expire five years from the date of issuance and will have an exercise price of $5.1875 per share. The Company intends to use the net proceeds from this offering to repay various outstanding indebtedness and for general corporate purposes, including working capital, increased research and development expenditures and funding its growth strategies. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 379,518 shares of Common Stock and/or Warrants to purchase 379,518 shares of Common Stock, or any combination thereof, to cover over-allotments, if any. EF Hutton, division of Benchmark Investments, LLC, acted as sole book-running manager for the offering. A registration statement on Form S-1 (File No. 333-260646) relating to these securities was filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective by the SEC on February 4, 2022. A final prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton, division of Benchmark Investments, LLC, at 590 Madison Avenue, 39th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at [email protected] or telephone at (212) 404-7002. Investors may also obtain these doc...