NASHVILLE, Tenn., Sept. 27, 2024 (Globe Newswire) — American Rebel Holdings, Inc. (NASDAQ: AREB) — American Patriotic Brands (the “Company”) today announced a reverse stock split of its outstanding stock. announced that it would carry out a stock split. Common Stock, par value $0.001 per share (the “Common Stock”), in a 9:9 ratio, effective at midnight Eastern time 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. The common stock will continue to be traded after the reverse stock split. Nasdaq is under the symbol “AREB” under the new CUSIP number 02919L505. The purpose of the reverse stock split is to bring the Company back into compliance with the minimum bid price requirement of $1.00 per common share for continued listing on Nasdaq.
The number of authorized shares of the Company’s common stock will not change as a result of the reverse stock split. No fractional shares will be issued in connection with the reverse stock split, and all such fractional shares will be rounded up to the nearest whole number of shares of common stock. Additionally, the reverse stock split will apply to common stock issuable upon exercise of our outstanding derivative securities, subject to a pro rata adjustment based on the exercise price and number of derivatives and our stock incentive plan.
As a result of the reverse stock split, the number of outstanding common shares of the Company will decrease from approximately 9.2 million shares to approximately 1.02 million shares.
On February 13, 2024, our stockholders approved our second amended certificate of incorporation to consolidate our common stock in a ratio of up to 10:1. The ratio will be determined in the sole discretion of the Company’s Board of Directors (the “Board”), and any reverse stock split will occur on a date and time determined by the Board in its sole discretion. At any time within 12 months of such stockholder approval. The Board of Directors approved a 9-for-1 reverse stock split on September 17, 2024.
Securities Transfer Co., Ltd. will act as the exchange agent and payment agent for the reverse stock split. Shareholders who hold their shares in a transfer account or securities account do not need to take any action regarding the reverse stock split.
Securities Transfer Co., Ltd. will instruct shareholders who hold securities regarding the procedures for book-entry transfer ownership of share certificates before the share consolidation or the exchange of share certificates after the share consolidation. Shareholders are encouraged to contact their bank, brokerage firm or custodian if they have any questions regarding the process.
About American Rebel Holdings
American Rebel Holdings, Inc. (NASDAQ: AREB), which primarily designs, manufactures and sells branded safes and personal security and protection products, recently entered the beverage industry with the introduction of American Rebel Beer. did. The company also designs and manufactures branded apparel and accessories. For more information, please visit www.americanrebel.com and www.americanrebelbeer.com. For investor information, please 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. We wish to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and have included this cautionary statement in connection with the following: This safe harbor law. “anticipate”, “believe”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “could” Words such as “will”, “target”, “could”, “likely”, “expected” and similar expressions relating to our company are intended to identify forward-looking statements. I’m here. We use these forward-looking statements primarily to reflect our current expectations regarding future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Based on predictions. Important factors that could cause actual results to differ from those in forward-looking statements include our ability to obtain adequate working capital and expansion funds, our ability to effectively incorporate acquisitions into our business, and our ability to effectively integrate acquisitions into our business, including on a non-GAAP basis. our use of pro forma financial estimates, our ability to introduce new products, our ability to meet production demands, our ability to expand our sales organization to serve existing and new markets we target, and our financial performance. and our ability to achieve or exceed our reported estimates, the impact of adverse inventory, our separation, our ability to continue to meet Nasdaq listing requirements, and our annual report on Form 10-K for the year ended December 31, 2023. risk factors contained in our filings with the SEC, including our reports; The material contained herein speaks only as of the date of its creation. There may be factors or events that occur from time to time that cause actual results to differ, and it is impossible to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
Source: American Rebel Holdings, Inc.
Company contact:
info@americanrebel.com
Investor information:
Brian Prenoveau
MZ North America
+1 (561) 489-5315
AREB@mzgroup.us
