UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01. Entry into Material Definitive Agreement.
As previously disclosed, on August 8, 2023, RumbleOn, Inc. (the “Company”) entered into a Standby Purchase Agreement (the “Standby Purchase Agreement”) with Mark Tkach (“Tkach”), William Coulter (“Coulter”) and Stone House Capital Management, LLC, a Delaware limited liability company (“Stone House” and, collectively with Tkach and Coulter, the “Standby Purchasers”). The Standby Purchase Agreement provides a binding commitment from the Standby Purchasers to purchase up to $100.0 million of shares of Class B common stock of the Company, par value $0.001 per share (the “Class B common stock”), in the aggregate from the Company if the Rights Offering is not fully subscribed.
On November 20, 2023, the Company and the Standby Purchasers entered into Amendment No. 1 to the Standby Purchase Agreement (“Amendment No. 1”), pursuant to which the parties agreed to extend the outside date by which the Standby Purchasers may terminate the agreement if the Rights Offering has not been consummated, from December 1, 2023 to December 8, 2023.
The foregoing description of Amendment No. 1 is qualified in its entirety by reference to the full text of the document, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 8.01 Other Events.
On November 22, 2023, the Company extended the expiration date of the previously announced $100.0 million equity rights offering (the “Rights Offering”) to 5:00 p.m. Eastern Time on December 5, 2023. This extension will allow eligible stockholders who are entitled to participate in the Rights Offering (stockholders of record of the Company’s Class A common stock, par value $0.001 per share, and Class B common stock as of November 13, 2023) additional time to participate.
A copy of the press release announcing the extension of the Rights Offering is attached hereto as Exhibit 99.1 and incorporated by reference herein.
The Rights Offering will be made only by means of a prospectus filed with the SEC as part of the Registration Statement on Form S-3, as amended (No. 333-274859) relating to the Rights Offering (the “Registration Statement”), which was declared effective by the SEC on November 13, 2023. This communication shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
10.1 | Amendment No. 1 to the Standby Purchase Agreement, dated as of November 20, 2023, by and among RumbleOn, Inc., Mark Tkach, William Coulter and Stone House Capital Management, LLC | |
99.1 | Press Release dated November 22, 2023 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RUMBLEON, INC. | ||
Date: November 22, 2023 | By: | /s/ Mathew W. Grynwald |
Mathew W. Grynwald | ||
General Counsel and Secretary |
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