RumbleOn has announced the closing of its previously announced underwritten public offering of 1,048,998 shares of its Class B common stock, par value $0.001 per share, at a price to the public of $38.00 per share.
In connection with the offering, the company said it also granted the underwriters a 30-day option to purchase up to an additional 157,349 shares of Class B common stock offered in the public offering to cover over-allotments, if any.
The gross proceeds from the public offering were $39.9 million, excluding underwriting discounts and commissions and other offering-related expenses.
RumbleOn said it intends to use the net proceeds from the offering for working capital and general corporate purposes.