Nashville, TN, July 12 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, today announced the closing of its previously announced private placement of common stock (or pre-funded warrants in lieu) and warrants subscription.
Pursuant to the securities purchase agreement, the Company sold 11,711,712 common shares (or prefunded warrants in lieu thereof) and warrants to purchase 23,423,424 common shares. Each common share (or pre-funded warrant in lieu thereof) was sold together with the accompanying warrants for 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. .
The Company intends to use the net proceeds from the private placement primarily to fund the planned acquisition of Champion Safe Company, as well as for general working capital and administrative purposes. Andy Ross, President and CEO of the company, said, “We are thrilled to introduce the Champion name to the American Rebel family. Founded in 1999 by Ray Crosby, Champion offers three lines of security products: Champion Safe, Superior Safe and Safe Guard Security Products. The American Rebel team is very much looking forward to working with Ray and his team and moving the business forward. »
EF Hutton, a division of Benchmark Investments, LLC, acted 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 (SEC) or an applicable exemption from these registration requirements. The securities were only offered to qualified investors. Pursuant to a registration rights agreement with investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of common stock and shares issuable upon exercise of warrants. subscription 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.