Deal Details

RumbleOn Completes $167 Million Follow-On Offering

Industrial
Consumer

RumbleOn follow-on offering

Summary

RumbleOn, Inc. (“RumbleOn” or the “Company”) (NASDAQ: RMBL) recently completed an upsized follow-on offering of 5,053,029 shares of its Class B Common Stock at a price of $33.00 per share, generating gross proceeds of $166.7 million, including the full exercise of the over-allotment option. The Company received all of the net proceeds from the offering and used (1) $130.0 million to fund in part the cash consideration and expenses related to the acquisition of RideNow, (2) $2.5 million to pay off a bridge loan in full, and (3) the remaining proceeds for working capital and general corporate purposes.

Baird served as a bookrunner on this offering.

About

Founded in 2017, RumbleOn is an e-commerce company using innovative technology to aggregate and distribute pre-owned vehicles. RumbleOn is disrupting the pre-owned vehicle supply chain by providing dealers with technology solutions such as virtual inventory, and a 24/7 distribution platform, and consumers with an efficient, timely and transparent transaction experience, without leaving home. Whether buying, selling, trading, or financing a vehicle, RumbleOn enables dealers and consumers to transact without geographic boundaries in a transparent, fast and friction free experience. RumbleOn is headquartered in Irving, Texas.

Industrial
Consumer

RumbleOn follow-on offering