RumbleON announces preliminary results of rights offering

RumbleOn (RMBL) announced the preliminary results of its $10M fully backstopped registered equity rights offering for shares of the company’s Class B common stock. The subscription period for the Rights Offering expired at 5:00 p.m. Eastern Time, on December 12. The Rights Offering resulted in subscriptions to purchase 2,043,011 shares of Class B common stock at a price of $4.18 per share. The shares of Class B common stock subscribed for are expected to be issued to participating stockholders on or about December 17.