American Rebel Holdings, Inc. Enters Purchase and Exchange Agreement and Issues Unregistered Securities |

American Rebel Holdings, Inc. (NASDAQ: AREB) recently disclosed the entry into a Purchase and Exchange Agreement with Altbanq Lending LLC and an investor. The agreement, concluded on November 11, 2024, involves the purchase of a portion of a promissory note and subsequent exchange for shares of the company’s common stock.

Under the terms, the investor agreed to acquire $150,469.11 of a promissory note initially valued at $1,330,000. Simultaneously, the company exchanged this portion for 78,615 shares of its common stock as a 3(a)(9) exchange. Additionally, the investor has the option to purchase further portions of the note within ninety days after the initial closing.

The agreement stipulates that any additional shares issued upon purchase shall not exceed a beneficial ownership limitation of 4.99% of outstanding common shares post-issuance. Furthermore, the company committed not to exceed issuing 19.99% of outstanding shares as per the agreement date. In case of limitations hindering the complete conversion of the note, shareholder approval will be sought for further issuances.

On the same date, November 11, 2024, a twelve-month promissory note amounting to $400,000 was signed with an accredited investor. An original issue discount of $80,000 was offset by the issuance of 26,756 common shares, resulting in a net loan amount of $320,000 to the company. The note details accrued interest and scheduled payments.

The note allows for conversion into restricted common stock at the discretion of the Lender after 180 days, based on a fixed rate or the three lowest volume-weighted average prices preceding the conversion. Furthermore, a share reserve is mandated to cover possible conversions under the note terms.

In unregistered securities issuance, the company issued shares to finalize the Purchase and Exchange Agreement and the promissory note. Additionally, 44,000 common shares were released to Charles A. Ross, Jr., the Chief Executive Officer and Chairman, upon the conversion of 88 shares of Series A Convertible Preferred Stock.

Moreover, a press release was issued on November 12, 2024, announcing the debut of American Rebel Light Lager at The Local Nashville and The Local Hendersonville, highlighting the Company’s innovative products and strategic partnerships.

The business strategies discussed in this 8-K filing appear to signal American Rebel Holdings’ proactive steps in securing financing and driving product visibility in the market. Investors and stakeholders are keenly watching as the company continues to expand its business offerings and market presence.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read American Rebel’s 8K filing here.

American Rebel Company Profile

American Rebel Holdings, Inc designs and markets branded safes, and personal security and self-defense products. The company's safes are offered in various sizes and shapes for home, office, and personal use, as well as provides vault doors, handgun vaults, and inventory control safes under the American Rebel brand.