American Rebel Holdings Announces Closing of $3.0 Million Private Placement
Summary
Nashville, TN, June 30, 2023 (GLOBE NEWSWIRE) -- 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. 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. For investor information, visit www.americanrebel.com/investor-relations.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. 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.