RumbleOn extends $100M rights offering to Dec 5; backstop agreement to Dec 8

RideNow Group, Inc.

Rights offering subscription period extended to 5:00 p.m. ET on December 5, 2023.
Standby Purchase Agreement outside date extended from Dec 1 to Dec 8, 2023.
Subscription price $5.50/share; each right entitles purchase of 1.078444 shares of Class B common stock.
Backstop commitment of up to $100M from Mark Tkach, William Coulter, and Stone House Capital Management.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RideNow Group, Inc. amended Amendment No. 1 to the Standby Purchase Agreement with Mark Tkach, William Coulter and Stone House Capital Management, LLC (effective 2023-11-20).

Action: amendment
Agreement: equity purchase
Counterparty: Mark Tkach, William Coulter and Stone House Capital Management, LLC
Effective: 2023-11-20

Exact text from the filing

On November 20, 2023, the Company and the Standby Purchasers entered into Amendment No. 1 to the Standby Purchase Agreement (“Amendment No. 1”), pursuant to which the parties agreed to extend the outside date by which the Standby Purchasers may terminate the agreement if the Rights Offering has not been consummated, from December 1, 2023 to December 8, 2023.

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RideNow Group, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-089636

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