RumbleOn closes $10M rights offering, 85% subscribed; insider backstop buys 349K shares

RideNow Group, Inc.

Net proceeds ~$9M; to repay 6.75% convertible notes due Jan 2025 and satisfy Oaktree credit agreement obligations.
Subscriptions for 2,043,011 shares at $4.18/share (85% of offering); unsubscribed 349,333 shares bought by Stone House.
After completion, Stone House holds 18.76%, Tkach 18.14%, Coulter 17.90% of Class B common stock.
Total shares outstanding ~37,713,298 following the Rights Offering and Backstop Private Placement.

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