RumbleOn Announces Subscription Price For Its $100M Rights Offering For Class B Stock At A Price Of $5.50/Share
Portfolio Pulse from Benzinga Newsdesk
RumbleOn, Inc. (NASDAQ:RMBL) has set a subscription price of $5.50 per share for its Class B common stock as part of its previously announced $100 million rights offering. The rights offering is expected to commence on November 13, 2023, and end on November 28, 2023. The offering is fully backstopped pursuant to a standby purchase agreement between the company and certain of its stockholders.
November 09, 2023 | 1:23 pm
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RumbleOn's rights offering for its Class B stock at a subscription price of $5.50 per share could potentially attract investors, impacting the company's stock price.
The announcement of the rights offering at a set subscription price could potentially attract investors who see this as an opportunity to buy into the company at a potentially lower price. This could increase demand for RumbleOn's stock, potentially driving up the stock price in the short term.
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