Lucosky Brookman LLP Successfully Represents American Rebel Holdings, Inc. in closing $13 Million Private Placement
Lucosky Brookman congratulates its client American Rebel Holdings, Inc. (NASDAQ: AREB) (NASDAQ: AREBW) (the “Company”), a designer and marketer of branded safes and personal security, and self-defense products, on a successful closing of its 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 11,711,712 shares of common stock (or pre-funded warrants in lieu thereof), and warrants to purchase 23,423,424 shares of common stock. Each share of common stock (or pre-funded warrant in lieu thereof) was sold together with accompanying warrants at a combined effective purchase price of $1.11. The warrants will be immediately exercisable from the date of issuance at an initial exercise price of $0.86 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 to fund the planned acquisition of Champion Safe Company, as well as for general working capital and administrative purposes. Andy Ross, Chief Executive Officer of the Company, said, “We are excited to bring the Champion name into the American Rebel family. Founded in 1999 by Ray Crosby, Champion has three safe lines – Champion Safe, Superior Safe and Safe Guard Security Products. The American Rebel team is very eager to work with Ray and his team and move the Company forward.”
Lucosky Brookman LLP acted as counsel to the Company.
EF Hutton, division of Benchmark Investments, LLC, acted as exclusive placement agent for the offering.