American Rebel Holdings, Inc. Announces Pricing of $10.5 Million Public Offering and Nasdaq Listing

About this update from American Rebel Holdings, Inc.

[{"type":"text","content":"NASHVILLE, TN , Feb. 04, 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 pricing of its 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. The Common Shares and Warrants have been approved to list on the Nasdaq Capital Market under the symbols \"AREB\" and \"AREBW,\" respectively, and are expected to begin trading on February 7, 2022. Prior to the Nasdaq listing, the Company’s Common Shares were listed on the OTCQB tier of the OTC Market Group, Inc. under the symbol “AREB.” In connection with this offering, the Company will effectuate a reverse split of its issued and outstanding Common Shares at a ratio of 1-for-80. The reverse stock split is expected to be effective as of the open of trading on February 7, 2022. The share numbers and pricing information in this release are adjusted to reflect the reverse stock split. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 379,518 Common Shares and/or Warrants to purchase 379,518 Common Shares, or any combination thereof, to cover over-allotments, if any. EF Hutton, division of Benchmark Investments, LLC, is acting as sole book-running manager for the offering. The offering is expected to close on Febru...

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