American Rebel Holdings Announces Closing of $3.0 Million Private Placement
30 Juni 2023 - 10:05PM
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 and marketer of branded safes and personal security
and self-defense products. The Company also designs and produces
branded apparel and accessories. To learn more, visit
www.americanrebel.com. For investor information, visit
www.americanrebel.com/investor-relations.
Cautionary Note Regarding
Forward-Looking Statements:
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB;
AREBW) (the “Company,” "American Rebel,” “we,” “our” or “us”)
desires to take advantage of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 and is including
this cautionary statement in connection with this safe harbor
legislation. The words "forecasts" "believe," "may," "estimate,"
"continue," "anticipate," "intend," "should," "plan," "could,"
"target," "potential," "is likely," "expect" and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements primarily on our current expectations and projections
about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy,
and financial needs. Important factors that could cause actual
results to differ from those in the forward-looking statements
include actual use of proceeds from the private placement, effects
of the private placement on the trading price of our securities,
implied or perceived benefits resulting from the receipt of funds
from the private placement, our ability to comply with the
covenants, representations and warranties contained in the purchase
agreement with the investor in the private placement, our ability
to effectively execute our business plan, and the Risk Factors
contained within our filings with the SEC, including our Annual
Report on Form 10-K for the year ended December 31, 2022. Any
forward-looking statement made by us herein speaks only as of the
date on which it is made. Factors or events that could cause our
actual results to differ may emerge from time to time, and it is
not possible for us to predict all of them. We undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
Company
Contact:info@americanrebel.com
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