AMERICAN REBEL HOLDINGS, INC. (NASDAQ: AREB) ANNOUNCES EFFECTIVENESS OF 1-FOR-9 REVERSE STOCK SPLIT AT THE OPEN OF TRADING ON OCTOBER 2, 2024
October 02 2024 - 8:00AM
American Rebel Holdings, Inc. (NASDAQ: AREB) — America’s Patriotic
Brand (the “Company”), today announced the effectiveness of its
1-for-9 reverse stock split of its outstanding shares of common
stock, par value $0.001 per share (the “Common Stock”), as of 12:00
a.m. on October 2, 2024.
The Company’s Common Stock will begin trading on
a reverse stock split-adjusted basis at the opening of the Nasdaq
Capital Market (“Nasdaq”) on Wednesday, October 2, 2024. Following
the reverse stock split, the Common Stock will continue to trade on
Nasdaq under the symbol “AREB” with the new CUSIP number,
02919L505. The reverse stock split is intended for the Company to
regain compliance with the minimum bid price requirement of $1.00
per share of common stock for continued listing on Nasdaq.
Key information
New CUSIP Number: 02919L505Every 9 shares will
be exchanged for 1 shareFractional Shares will be rounded upPost
spilt approximately 1.06M shares will be outstanding
The reverse stock split will not change the
authorized number of shares of our Common Stock. No fractional
shares will be issued in connection with the reverse stock split
and all such fractional interests will be rounded up to the nearest
whole number of shares of Common Stock.
In addition, the reverse stock split will apply
to the Common Stock issuable upon the exercise of the Company’s
outstanding derivative securities, with proportionate adjustments
to be made to the exercise prices and number of derivates thereof
and under the Company’s equity incentive plans.
The reverse stock split will reduce the number
of issued and outstanding shares of the Company’s common stock from
approximately 9.5 million to approximately 1.06 million.
Securities Transfer Corporation is acting as the
exchange agent and paying agent for the reverse stock split.
Stockholders holding their shares in book-entry form or in
brokerage accounts need not take any action in connection with the
reverse stock split.
Securities Transfer Corporation2901 N Dallas
ParkwaySuite 380Plano, Texas 75093(469) 633-0101stctransfer.com
Securities Transfer Corporation will provide
instructions to any stockholders with certificates regarding the
process in connection with the exchange of pre-reverse stock split
stock certificates for ownership in book-entry form or stock
certificates on a post-reverse stock split basis. Stockholders are
encouraged to contact their bank, broker or custodian with any
procedural questions.
About American Rebel Holdings,
Inc.
American Rebel Holdings, Inc. (NASDAQ: AREB) has
operated primarily as a designer, manufacturer and marketer of
branded safes and personal security and self-defense products and
has recently transitioned into the beverage industry through the
introduction of American Rebel Beer by its wholly-owned subsidiary,
American Rebel Beverages, LLC. The Company also designs and
produces branded apparel and accessories. To learn more, visit
www.americanrebel.com and www.americanrebelbeer.com. For investor
information, visit www.americanrebel.com/investor-relations .
Cautionary Note Regarding
Forward-Looking Statements:
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The Company desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words “forecasts”
“believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,”
“should,” “plan,” “could,” “target,” “potential,” “is likely,”
“expect” and similar expressions, as they relate to us, are
intended to identify forward-looking statements. We have based
these forward-looking statements primarily on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy, and financial needs. Important
factors that could cause actual results to differ from those in the
forward-looking statements include our ability to raise adequate
working and expansion capital, our ability to efficiently
incorporate acquisitions into our operations, the use of non-GAAP
based pro forma financial estimates, our ability to introduce new
products, our ability to meet production demands, our ability to
expand our sales organization to address existing and new markets
that we intend to target, our ability to meet or exceed financial
and reporting estimates, any effects of the reverse stock split,
our ability to continue to meet Nasdaq listing requirements, and
the Risk Factors contained within our filings with the SEC,
including our Annual Report on Form 10-K for the year ended
December 31, 2023. Any forward-looking statement made by us herein
speaks only as of the date on which it is made. Factors or events
that could cause our actual results to differ may emerge from time
to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statements, whether as a result of new information, future
developments or otherwise, except as may be required by law.
SOURCE: American Rebel
Holdings, Inc.
Company
Contact: info@americanrebel.com
Investor Relations: Brian
PrenoveauMZ North America+1 (561) 489-5315AREB@mzgroup.us
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