RumbleON announces extension of $100M rights offering subscription period

RumbleOn announced that its board of directors is extending the rights offering subscription period an additional week until December 5 in order to better ensure that holders of its Class A common stock and Class B common stock have sufficient time to subscribe for shares of Class B Common Stock of RumbleOn. The company has distributed one Subscription Right for each share of the company’s Class A common stock and Class B common stock held by eligible stockholders as of the record date. Each Subscription Right entitles eligible stockholders to purchase 1.078444 shares of the company’s Class B common stock at the subscription price of $5.50 per share. The rights offering is fully backstopped pursuant to a standby purchase agreement between the company and certain of its stockholders.