Rumbleon Inc Stock Price, News & Analysis

RumbleOn, Inc. (NASDAQ: RMBL) has entered an asset purchase agreement to acquire a Jacksonville-based powersports dealer that has demonstrated steady revenue growth and profitability. This acquisition marks RumbleOn's first since its business combination with RideNow on August 31, 2021. Expected to close in early Q4 2021, the acquisition aligns with RumbleOn's strategy to consolidate the highly fragmented powersports market and enhance its omnichannel customer experience.

RumbleOn, Inc. (NASDAQ: RMBL) has successfully closed its upsized public offering, raising approximately $167.0 million in gross proceeds. The offering included the full exercise of the underwriters' option, totaling about 5.1 million shares sold at $33.00 each. Additionally, RumbleOn completed its business combination with RideNow, acquiring 100% of its dealership portfolio. This strategic move positions RumbleOn as a leader in the powersports industry with an omnichannel customer experience. A conference call is set for September 1, 2021.

RumbleOn (NASDAQ: RMBL) announced that it expects to finalize its business combination with RideNow on August 31, 2021, acquiring 100% of RideNow's dealership portfolio. This move aims to create the first omnichannel consumer experience in North America's powersports market. RumbleOn has secured the necessary funds for the closing and is positioned to leverage changing consumer behaviors accelerated by recent events. The merger is seen as a significant step toward enhancing customer service and fulfilling brand aspirations in the industry.

RumbleOn (NASDAQ: RMBL) has announced a public offering of 4,393,939 shares of Class B Common Stock at $33.00 per share, with a 30-day option for underwriters to purchase an additional 659,090 shares. The offering, expected to close on August 31, 2021, is underwritten by B. Riley Securities and Baird. A shelf registration statement was filed with the SEC and is effective since June 28, 2021. The proceeds from this offering are intended to support the company's growth strategies in the e-commerce vehicle market.

RumbleOn, Inc. (Nasdaq: RMBL) has announced a proposed underwritten public offering of its Class B Common Stock, with the possibility of a 15% over-allotment option for underwriters. The final terms hinge on market conditions, and there's no guarantee regarding completion or specific terms. B. Riley Securities and Baird are the joint book-runners, with D.A. Davidson & Co. and Wedbush Securities as co-managers. A shelf registration statement for this offering was filed and declared effective by the SEC.

RumbleOn, Inc (NASDAQ: RMBL) announced the appointment of Matthew McCartin as Chief Marketing Officer, effective September 7, 2021. McCartin, a seasoned marketing leader, will spearhead RumbleOn's marketing strategy following its merger with RideNow, aiming to establish a premier omnichannel experience in the powersports market. With 30 years of experience at renowned brands like YUM Brands and Expedia, McCartin is expected to enhance brand awareness and drive revenue. CEO Marshall Chesrown emphasized McCartin's expertise will be crucial as the company prepares for significant growth.

RumbleOn, Inc (NASDAQ: RMBL) reported Q2 2021 financials, showcasing a 100% revenue increase to $168.3 million year-over-year. Total vehicle unit sales rose 55% to 5,711, with powersports unit sales up 181%. Gross profit reached $19.5 million, improving its gross margin to 11.6%. The firm announced a business combination with RideNow, expected to close soon, aimed at enhancing revenue and cost synergies in the $100+ billion powersports market. RumbleOn anticipates combined revenue of $1.45-$1.55 billion and adjusted EBITDA of $110-$115 million for 2021.

RumbleOn (NASDAQ:RMBL) announced stockholder approval for its business combination with RideNow during a special meeting on July 30, 2021. The merger is set to close in Q3, pending customary conditions. This strategic move positions the combined company to dominate a $100+ billion market, leveraging an end-to-end platform to enhance consumer reach in a fragmented sector. The deal aims to boost revenue growth and drive cost synergies, resulting in improved monetization and margin expansion for RumbleOn.

RumbleOn (NASDAQ: RMBL) announced its plans to release second quarter 2021 financial results on August 2, 2021, before market opening. A conference call and webcast will follow at 8:30 a.m. ET to discuss the results and overall business performance. The company continues to innovate in the e-commerce sector, focusing on the aggregation and distribution of pre-owned vehicles, enhancing dealer and consumer transactions through technology solutions.