Business
American Rebel Holdings, Inc. Regains Compliance with NASDAQ Minimum Bid Price Requirement
Nashville, TN, Oct. 17, 2024 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) ("American Rebel" or the "Company"), America’s Patriotic Brand
About this update from American Rebel Holdings, Inc.
[{"type":"text","content":"Nashville, TN, Oct. 17, 2024 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) (\"American Rebel\" or the \"Company\"), America’s Patriotic Brand (www.americanrebel.com) and the creator of American Rebel Beer (www.americanrebelbeer.com), and manufacturer and marketer of branded safes (www.championsafe.com), personal security and self-defense products and apparel, announced today that on October 16, 2024, it received a formal notice from The Nasdaq Stock Market, LLC’s Listing Qualifications (“Nasdaq”). The notice confirmed that the Company has regained compliance with the minimum bid price requirement as set forth in Nasdaq’s Listing Rule 5550(a)(2) (the “Bid Price Rule”). Previously on October 23, 2023, Nasdaq notified the Company that its Common Stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Bid Price Rule. Nasdaq determined that for the last 10 consecutive business days, from October 2, 2024, to October 15, 2024, the closing bid price of the Company’s common stock was at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed. Andy Ross, CEO of American Rebel, stated, “We are pleased to report that Nasdaq has recognized our compliance with the minimum bid price requirement. With the resolution of this compliance issue, we can continue to build upon the great progress made during 2024 by concentrating our resources on continuing to improve and advance our Champion Safe and American Rebel Beverage business units. The recent launch of our domestic premium light lager beer, American Rebel Light, has continued to exceed expectations. Since our first production run at the end of August 2024 we have announced several shipments to our distribution partners and can proudly state that American Rebel Light Beer – America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer, is now available at retail establishments within our distributor service territories and being served at several on-premise accounts. Champion Safe has continued to streamline its operations and product offerings, which has reduced the overall monthly burn and is prepared for scale around the new rightsized product mix, including the introduction of new products...