Rumbleon Inc - RMBL STOCK NEWS

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.

RumbleOn, Inc. (NASDAQ:RMBL) announced the filing of a definitive proxy statement for a special meeting of shareholders on July 30, 2021, at 8:00 a.m. CT. The meeting aims to vote on matters regarding its proposed business combination with RideNow. Only shareholders of RumbleOn Class A and B common stock as of June 21, 2021 are eligible to participate. The comprehensive proxy statement is available on the SEC's website and the company's investor section, detailing risk factors and the significance of the transaction.

RumbleOn (NASDAQ: RMBL) has appointed Michael Francis as General Counsel, a significant addition given his longstanding relationship with the company and experience in corporate law. Francis has worked closely with RumbleOn's leadership and was previously the outside counsel since its inception. His extensive legal background includes IPOs and corporate transactions, which will aid RumbleOn in executing its business combination with RideNow, aiming to enhance the omnichannel customer experience in powersports. This strategic move supports the company's goals for growth and consolidation in the industry.

RumbleOn, Inc. (NASDAQ: RMBL) provided an update on its pending business combination with RideNow, aiming to create the first omnichannel powersport platform in the U.S. The company filed preliminary proxy materials with the SEC and expects the transaction to close in Q3 2021. RumbleOn reiterated its Q2 revenue guidance of $140 to $150 million, projecting a year-over-year growth of 66%-78%. For the full year 2021, combined revenues are expected between $1.45 billion and $1.55 billion, with Adjusted EBITDA of $110 million to $115 million.

RumbleOn, Inc. (NASDAQ: RMBL) announced the appointment of Peter Levy to its Board of Directors, effective June 17, 2021. Levy, who has been the Chief Operating Officer since 2017, brings over 25 years of experience in technology companies. He has contributed significantly to RumbleOn by fostering relationships with dealers and leading various initiatives, including the Dealer Direct platform. CEO Marshall Chesrown expressed confidence in Levy's leadership as the company aims for growth in the omnichannel powersports market.