American Rebel Holdings, Inc. Announces Closing of $10.5 Million Public Offering

Rhea-AI Summary

American Rebel Holdings, Inc. (NASDAQ:AREB, AREBW) completed an underwritten public offering of 2,530,121 units at $4.15 each, generating approximately $10.5 million before expenses. Each unit consists of a share of common stock and a warrant, separable and trading individually. The proceeds will address outstanding debt and support growth through working capital and increased R&D. Additionally, underwriters have a 45-day option for over-allotments of up to 379,518 shares or warrants.

Positive

• Generated approximately $10.5 million in gross proceeds from the offering.
• Funds will support repayment of debt, working capital, and R&D enhancements.

Negative

• The offering may lead to shareholder dilution based on new shares and warrants issued.

NASHVILLE, TN, Feb. 09, 2022 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc., (NASDAQ:AREB)(NASDAQ:AREBW) (the “Company,” "American Rebel,” “we,” “our” or “us”), a designer and marketer of branded safes and personal security, and self-defense products, announced today the closing of its previously announced underwritten public offering of 2,530,121 units (the “Common Units”), at a price to the public of $4.15 per Common Unit, for aggregate gross proceeds of approximately $10.5 million, prior to deducting underwriting discounts, commissions, and other estimated offering expenses. Each Common Unit consists of one share of common stock, par value $0.001 per share (the “Common Stock”), and one warrant to purchase one share of Common Stock (each a “Warrant” and collectively the “Warrants”). The Common Stock and Warrants are immediately separable from the Common Units and will be issued and traded separately. The Warrants are exercisable immediately, expire five years from the date of issuance and will have an exercise price of $5.1875 per share.

The Company intends to use the net proceeds from this offering to repay various outstanding indebtedness and for general corporate purposes, including working capital, increased research and development expenditures and funding its growth strategies.

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 379,518 shares of Common Stock and/or Warrants to purchase 379,518 shares of Common Stock, or any combination thereof, to cover over-allotments, if any.

EF Hutton, division of Benchmark Investments, LLC, acted as sole book-running manager for the offering.

A registration statement on Form S-1 (File No. 333-260646) relating to these securities was filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on February 4, 2022. A final prospectus relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, may be obtained from EF Hutton, division of Benchmark Investments, LLC, at 590 Madison Avenue, 39^th Floor, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@efhuttongroup.com or telephone at (212) 404-7002. Investors may also obtain these documents at no cost by visiting the SEC's website at https://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 apparel and accessories. To learn more, visit www.americanrebel.com. For investor information, visit www.americanrebel.com/investor-relations.

Cautionary Note 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,” “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. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "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 about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our current reliance on a sole manufacturer and supplier for the production of our safes, our manufacturing partner’s ability to meet production demands, our ability to expand our sales organization to address existing and new markets that we intend to target, our ability to effectively compete in a competitive industry, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2020. 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 emerge from time to time, and it is not possible 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 may be required by law.

Company Contact:
Charles A. Ross, Jr.
CEO
American Rebel Holdings, Inc.
info@americanrebel.com

SOURCE: American Rebel Holdings, Inc.

FAQ

What was the size of American Rebel's public offering on February 9, 2022?

American Rebel Holdings' public offering consisted of 2,530,121 units, raising approximately $10.5 million.

What will the proceeds from the American Rebel offering be used for?

The proceeds will be used to repay outstanding debt, general corporate purposes, including working capital and increased R&D expenditures.

What are the details of the warrants included in American Rebel's offering?

Each unit includes one warrant to purchase a share of common stock, exercisable immediately at a price of $5.1875, expiring five years from issuance.

Is there an option for underwriters related to the recent public offering?

Yes, underwriters have a 45-day option to purchase up to 379,518 additional shares or warrants for overallotments.