American Rebel Announces $19.99M Of 8.53% Series C Redeemable Convertible Preferred Stock; 2.6M Shares At $7.50/Share
Portfolio Pulse from Benzinga Newsdesk
American Rebel announced the issuance of $19.99M of 8.53% Series C Redeemable Convertible Preferred Stock, consisting of 2.6 million shares priced at $7.50 each. This move could potentially dilute current shareholders but also provides the company with necessary capital for growth or operations.
March 15, 2024 | 1:01 pm
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NEUTRAL IMPACT
American Rebel's issuance of Series C Preferred Stock could dilute existing shareholders but provides essential capital for the company.
The issuance of new preferred stock increases the company's capital, which is positive for growth and operations. However, the potential dilution of existing shares could have a neutral to slightly negative impact on the stock price in the short term, depending on investor perception of the company's growth prospects versus the dilution effect.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90