2023-06-28 09:49:41 ET
American Rebel ( NASDAQ: AREB ) stock price slumps 32% as the company enters into a securities purchase agreement with a single institutional investor to raise ~$3M through the private placement of 686,499 shares and warrants to purchase 686,499 shares.
Each share of common stock is being sold together with accompanying warrants at a combined effective purchase price of $4.37.
The closing of the private placement is expected to occur on June 30, 2023.
Net proceeds will be used for general working capital and administrative purposes.
For further details see:
American Rebel down 32%, prices $3M private placement