secwatch.observer — SEC 8-K summary
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Issuer:     RideNow Group, Inc. (RDNW)
CIK:        0001596961
Form:       8-K
Filed at:   2024-12-19T23:59:59+00:00
Accession:  0001596961-24-000130
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1596961/000159696124000130/0001596961-24-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1596961/000159696124000130/rmbl-20241219.htm
  HTML page:      https://secwatch.observer/filing/0001596961-24-000130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer