American Rebel (NASDAQ: AREB, AREBW), a designer and marketer of branded safes and personal security and self-defense products, has announced the closing of its private placement of common stock (or pre-funded warrants in lieu thereof) and warrants. Under the 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 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, and will expire five years from the date of issuance. American Rebel 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. EF Hutton, division of Benchmark Investments LLC, acted as exclusive placement agent for the offering.
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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. For more information, visit the company’s website at www.AmericanRebel.com.
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