RideNow Group, Inc. (RDNW): M&A transaction — RumbleOn completes sale-leaseback of eight properties for $49.1M, reduces debt

RideNow Group, Inc.

Sold 8 of 9 properties for aggregate purchase price of $49,068,844; remaining property expected to close later.
Net cash proceeds of ~$48.2M after taxes, expenses, and fees; proceeds remitted to Oaktree Fund Administration to reduce outstanding Term Loan debt.
Entered into Unitary Master Lease Agreement to lease back the sold properties from the buyer.
No material relationships between company and buyer or its affiliates, officers, or directors.

item 1.01 item 2.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

RideNow Group, Inc. completed a disposition (closed 2023-09-08).

Action: disposition
Closing: 2023-09-08

Exact text from the filing

On September 8, 2023, the Company completed the sale of eight of the Properties (the “Sold Properties”) for an aggregate purchase price of $49,068,844.

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RideNow Group, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-076703

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