American Rebel Holdings, Inc., a designer, manufacturer and marketer of branded safes, personal security and self-defense products, closed on its private placement of common stock, or pre-funded warrants in lieu thereof, and warrants.
Under the terms of the securities purchase agreement, American Rebel Holdings sold 686,499 shares of common stock, or pre-funded warrants in lieu thereof, and warrants to purchase 686,499 shares of common stock. Each share of common stock, or pre-funded warrant in lieu thereof, was sold with accompanying warrants at a combined effective purchase price of $4.37.
The warrants are immediately exercisable from the date of issuance at an initial exercise price of $4.24 per share, subject to adjustments as set forth therein, and will expire five years from the date of issuance.
American Rebel Holdings, Inc. reported it intends to use the net proceeds from the private placement primarily for general working capital and administrative purposes.
EF Hutton, a Benchmark Investments, LLC division, acted as the exclusive placement agent for the offering.
