American Rebel Holdings Announces $13.0 Million Price
Nashville, TN, Jul 07 2022 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (NASDAQ: AREBW) (the “Company”, “American Rebel”, “we”, “our” or “us”), a designer and distributor of branded safes and personal security and self-defense products, announced today that it has entered into a securities purchase agreement with a single institutional investor to raise approximately $13.0 million per the private placement of 11,711,712 shares of common stock (or pre-funded warrants instead) and warrants to purchase 23,423,424 common shares. Each common share (or prefunded warrant instead) is sold together with the accompanying warrants at a combined effective purchase price of $1.11. The warrants will be exercisable immediately from the date of issue at an initial exercise price of $0.86 per share, subject to the adjustments set forth therein, and will expire five years from the date of issue. ’emission. The closing of the private placement is expected to occur on July 12, 2022, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreement.
The Company intends to use the net proceeds from the private placement primarily to fund the previously announced planned acquisition of the Champion Safe Companies, as well as for general working capital and administrative purposes.
EF Hutton, a division of Benchmark Investments, LLC, is acting as the exclusive placement agent for the offering.
The common stock, prefunded 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 without registration with of the Securities and Exchange Commission (the “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 common stock and shares issuable upon the exercise of the warrants and pre-funded warrants.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, and there will be no sale of such securities in any state or jurisdiction in which a such offer, solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of such state or territory.
About American Rebel Holdings, Inc.
American Rebel operates primarily as a designer and marketer of branded safes and personal security and self-defense products. The company also designs and produces branded clothing and accessories. To learn more, visit www.americanrebel.com. For more investor information, visit www.americanrebel.com/investor-relations.
Caution 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) (NASDAQ:AREBW) (the “Company”, “American Rebel”, ” we”, “us” or “us”) wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this disclaimer as part of such safe harbor legislation. The words “expect”, “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 regarding future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. actual events that differ from those set forth in the forward-looking statements include our ability to raise sufficient funds to complete the acquisition, our current reliance on a single manufacturer and supplier for the production of our safes, the ability to our manufacturing partner to meet production demands, our ability to expand our sales organization to meet existing and new markets we intend to target, our ability to compete effectively in a competitive industry and the risk factors contained in our SEC filings, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. 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 arise from time to time and it is impossible 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 required by law.