secwatch.observer — SEC 8-K summary
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Issuer:     RideNow Group, Inc. (RDNW)
CIK:        0001596961
Form:       8-K
Filed at:   2021-09-07T23:59:59+00:00
Accession:  0001213900-21-046757
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 5.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RumbleOn completes $400.4M acquisition of RideNow Powersports, creates largest US powersports retailer
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- RideNow equity holders received $400.4M cash and 5,833,333 RumbleOn Class B shares.
- Acquisition funded by $167.3M public offering (5,053,029 shares) and $280M new term loan facility.
- New Credit Agreement includes $280M term loan and $120M delayed draw; interest rate LIBOR + 8.25% or base + 7.25%.
- Board expanded to nine directors; RideNow co-founders William Coulter and Mark Tkach appointed as directors and executive officers.
- Employment agreements signed with five executives: Chesrown, Coulter, Tkach, Levy ($500K salary) and Rath ($220K salary); annual bonus up to 125%/100% of salary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1596961/000121390021046757/0001213900-21-046757-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1596961/000121390021046757/ea146879-8k_rumbleoninc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-046757

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