RumbleOn, Inc. closes $39.86 million public offering

RumbleOn has announced the closing of its previously announced underwritten public offering of 1,048,998 shares of its Class B Common Stock, par value $0.001 per share, at a price to the public of $38.00 per share.

In connection with the offering, the company also granted the underwriters a 30-day option to purchase up to an additional 157,349 shares of Class B Common Stock offered in the public offering to cover over-allotments, if any.

The gross proceeds from the public offering were $39.86 million, excluding underwriting discounts and commissions and other offering-related expenses.

RumbleOn intends to use the net proceeds from the offering for working capital and general corporate purposes.