RumbleOn Concludes $100M Rights Offering With 81.1% Share Subscription
Portfolio Pulse from Benzinga Newsdesk
RumbleOn announced the completion of its $100 million rights offering, with 81.1% of the shares offered being subscribed at $5.50 per share. The shares are expected to be issued to participating stockholders around December 8, 2023.
December 07, 2023 | 6:54 am
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RumbleOn successfully completed a rights offering, with a subscription rate of 81.1% for the shares at $5.50 each, indicating strong investor interest and potential capital infusion.
The successful completion of RumbleOn's rights offering with a high subscription rate suggests positive investor sentiment and could lead to a short-term increase in the stock price due to the capital raised and the confidence shown by investors.
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