Leadership Changes - Michael Quartieri, Chairman of the Board, has been appointed as Chief Executive Officer [5][6] - Cameron Tkach, Vice President of Dealership Operations, has been promoted to Executive Vice President and Chief Operating Officer [5][6] - Becca Polak, Chair of the Compensation Committee, has been named Vice Chairman and Lead Independent Director [5][6] - Michael Kennedy is no longer Chief Executive Officer or a member of the Board of Directors [5] Executive Profiles - Michael Quartieri has significant leadership and strategic planning experience, strong financial acumen, and corporate governance expertise [1] - Cameron Tkach has over 15 years of experience in the powersports industry, with a background in operational roles such as Sales Manager, Finance Manager, General Manager, and Operations Director [1] - Becca Polak is a seasoned executive and board advisor with a record of driving business strategy, execution, and technology transformation [1] Company Overview - RumbleOn operates through two segments: Powersports dealership group and Wholesale Express, LLC, an asset-light transportation services provider [4] - The Powersports group is the largest in the US by revenue, unit sales, and dealership locations, offering over 500 franchises representing 50 brands [4] - The company is the largest purchaser of pre-owned powersports vehicles in the US, utilizing RideNow's Cash Offer to acquire vehicles directly from consumers [4] Strategic Focus - Michael Quartieri emphasizes driving growth, improving profitability, and producing strong cash flow following the payoff of convertible notes [1] - Cameron Tkach aims to leverage his operational and strategic expertise to achieve operational excellence and market leadership in the powersports industry [1] - The leadership team is focused on accelerating RumbleOn's success through strategic vision and execution [1]

Core Points - RumbleOn, Inc. announced the final results of its $10 million fully backstopped registered equity rights offering, which resulted in subscriptions for 2,043,011 shares, approximately 85% of the shares offered at a price of $4.18 per share [1] - The Standby Purchaser, Stone House Capital Management, will purchase 349,333 unsubscribed shares for approximately $1.5 million [2] - The net proceeds from the Rights Offering and Backstop Private Placement are estimated to be around $9 million, intended for general corporate purposes, including repayment of convertible senior promissory notes [4] Summary by Sections Rights Offering Results - The subscription period for the Rights Offering expired on December 12, 2024, with 2,043,011 shares subscribed, representing about 85% of the total offered [1] - Shares are expected to be issued to participating stockholders on or about December 17, 2024 [1] Backstop Private Placement - Stone House Capital Management will acquire 349,333 shares that were not subscribed for in the Rights Offering, including 116,555 shares it was entitled to subscribe for [2] - The Backstop Private Placement is expected to close on December 19, 2024 [3] Financial Implications - The estimated net proceeds from both the Rights Offering and Backstop Private Placement are approximately $9 million [4] - Proceeds will be used for general corporate purposes, including the repayment of convertible senior promissory notes due January 1, 2025, and to meet additional capital financing obligations [4] Share Structure - Following the completion of the offerings, the Company expects to have approximately 37,713,298 shares of Class B common stock outstanding [5] Company Overview - RumbleOn operates through two segments: Powersports dealership group and Wholesale Express, LLC, focusing on the automotive industry [8] - It is the largest powersports retail group in the U.S., offering over 500 franchises and a wide selection of new and pre-owned products [8]

Core Points - RumbleOn, Inc. announced preliminary results of its $10 million fully backstopped registered equity rights offering for Class B common stock, with subscriptions for 2,043,011 shares at a price of $4.18 per share [1][4] - The offering was not fully subscribed, leading to a standby purchaser, Stone House Capital Management, expected to buy 349,333 shares in a backstop private placement [2][3] - The estimated net proceeds from both the rights offering and backstop private placement are approximately $9 million, intended for general corporate purposes, including repayment of convertible senior promissory notes [4] Summary by Sections Rights Offering - The subscription period for the rights offering ended on December 12, 2024, with 2,043,011 shares subscribed at $4.18 each [1] - The shares are expected to be issued to participating stockholders around December 17, 2024 [1][5] Backstop Private Placement - Stone House Capital Management will purchase any unsubscribed shares, totaling 349,333 shares at the same subscription price [2] - The backstop private placement is anticipated to close on December 19, 2024 [3] Financial Proceeds - The company estimates net proceeds of approximately $9 million from the rights offering and backstop private placement [4] - Proceeds will be used for general corporate purposes, including repayment of convertible senior promissory notes due January 1, 2025 [4] Company Overview - RumbleOn operates through two segments: Powersports dealership group and Wholesale Express, LLC, focusing on the automotive industry [8] - It is the largest powersports retail group in the U.S., offering over 500 franchises and a wide selection of products [8][9]

Core Viewpoint - RumbleOn, Inc. has initiated a $10 million fully backstopped registered equity rights offering to raise funds for general corporate purposes, including the repayment of convertible senior promissory notes and additional capital financing obligations [1][4]. Group 1: Rights Offering Details - The company is offering non-transferable subscription rights to holders of Class A and Class B common stock, allowing them to purchase up to 2,392,344 shares of Class B common stock at a price of $4.18 per share [2]. - Each eligible stockholder will receive one subscription right for each share owned as of the record date, with each right allowing the purchase of 0.0677 shares of Class B common stock [2]. - The subscription rights will expire on December 12, 2024, unless extended by the company [3]. Group 2: Support and Standby Purchase Agreement - RumbleOn has entered into a support and standby purchase agreement with Stone House Capital Management and other board members, ensuring that any shares not subscribed for will be purchased by the standby purchaser [4]. - The standby purchaser will buy any unsubscribed shares at the same subscription price as eligible stockholders [4]. Group 3: Additional Information - The subscription rights will not be listed for trading, but the shares issued upon exercise will be listed on The Nasdaq Capital Market [5]. - Subscription documents will be distributed to eligible stockholders starting November 26, 2024 [5]. - The offering is made under the company's existing effective shelf registration statement filed with the SEC [8].

Core Viewpoint - RumbleOn, Inc. has announced a proposed $10 million registered equity rights offering, with a record date set for November 25, 2024, allowing eligible stockholders to participate on a pro rata basis [1][2]. Group 1: Rights Offering Details - The Rights Offering will distribute non-transferable subscription rights to holders of Class A and Class B Common Stock as of the record date, with each eligible stockholder receiving one subscription right per share held [2]. - The subscription price for the Rights Offering will be set at a 20% discount to either the 30-day or 10-day volume-weighted average price of Class B Common Stock prior to the offering, with the final price yet to be determined [3]. - A binding term sheet has been established with Stone House Capital Management as the backstop investor, ensuring that all shares available will be purchased if the offering is not fully subscribed [4]. Group 2: Supporting Investors - Supporting investors have agreed to purchase all shares available from their pro rata subscription rights in the Rights Offering, ensuring additional support for the offering [5]. Group 3: Company Overview - RumbleOn operates through two segments: a powersports dealership group and an asset-light transportation services provider, making it the largest powersports retail group in the U.S. by revenue and dealership locations [7].

RumbleON, Inc. (RMBL) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -190.91%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced break-even earnings, delivering a surprise of -100%.Over the last four quarters, the company has no ...

IRVING, Texas, Nov. 6, 2024 /CNW/ - RumbleOn, Inc. (NASDAQ: RMBL) (the "Company" or "RumbleOn"), today announced that it will release its third quarter 2024 operational and financial results before the market opens on Tuesday, November 12, 2024.The Company has scheduled a conference call and webcast on the same day at 7:00 a.m. Central Time (8:00 a.m. Eastern Time) to discuss its operational and financial results. The call will be hosted by Mike Kennedy, Chief Executive Officer, and Tiffany Kice, Chief Fina ...

Private Label Partnership Drives More Sales Through Fast, Easy Financing and Branded, Lifecycle Marketing NEW YORK, Oct. 29, 2024 /PRNewswire/ -- Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, and RideNow, a RumbleOn company and the largest powersports retailer in North America, announced a partnership to launch branded finance in RideNow's 56 retail stores under the RideNow Finance brand. Effective immediately, RideNow Powersports custom ...

RumbleON, Inc. (RMBL) shares ended the last trading session 11.8% higher at $5.79. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 22.8% gain over the past four weeks. The optimism surrounding RumbleON's stock stems from a more favorable business environment, particularly as the Federal Reserve begins reducing interest rates. This shift is expected to increase consumer spending, benefiting companies like RumbleON t ...

RumbleON, Inc. (RMBL) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.02. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.29, delivering a surprise of -222.22%. Over the last four quarters, the company has not been able ...