RumbleOn Inc. (RMBL) to Close Merger with RideNow on August 31st
RumbleOn, Inc (NASDAQ: RMBL), the e-commerce company using innovative technology to simplify how dealers and consumers buy, sell, trade or finance pre-owned vehicles, today announced it expects the pending business combination with RideNow to close on Tuesday, August 31, 2021, acquiring 100% of the RideNow dealership portfolio. RumbleOn announced the pricing of its underwritten public offering this morning and has secured all funds necessary to close.
“We are only days away from becoming the first omnichannel consumer experience in powersports in North America and the first public company in this vehicle segment,” said Marshall Chesrown, RumbleOn’s Chief Executive Officer. “We are pleased to announce that we are on plan to close this transformational business combination with RideNow next Tuesday, August 31. We are more excited than ever to support each of our manufacturer partners to provide incredible customer service, fulfill their individual brand aspirations and initiatives, as well as help bring new passionate riders to powersports.”
On March 15, 2021, RumbleOn and RideNow announced they entered into a definitive merger/equity purchase agreement, to create the only omnichannel customer experience in powersports and the first publicly traded powersports dealership platform. The combination of RumbleOn and RideNow is well positioned to capitalize on the trending changes in consumer behavior that have been accelerated by the events of the last 18 months.