American Rebel Holdings Secures $500K Convertible Note
Ticker: AREBW · Form: 8-K · Filed: Jun 4, 2024 · CIK: 1648087
| Field | Detail |
|---|---|
| Company | American Rebel Holdings INC (AREBW) |
| Form Type | 8-K |
| Filed Date | Jun 4, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $111,550, $14,550, $7,000, $90,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, debt-financing, convertible-note
Related Tickers: AREB
TL;DR
Rebel Holdings just got a $500k note, convertible to stock. Bullish?
AI Summary
On May 28, 2024, American Rebel Holdings, Inc. entered into a material definitive agreement, specifically a Securities Purchase Agreement, with an accredited investor. This agreement involves the issuance of a convertible promissory note for $500,000, convertible into shares of the company's common stock at a fixed conversion price.
Why It Matters
This financing provides American Rebel Holdings with capital, potentially enabling further business development or operational expansion.
Risk Assessment
Risk Level: medium — Convertible notes can dilute existing shareholders if converted, and the terms of the agreement may present financial risks.
Key Numbers
- $500,000 — Convertible Note Principal (Funds raised through a Securities Purchase Agreement.)
Key Players & Entities
- American Rebel Holdings, Inc. (company) — Registrant
- May 28, 2024 (date) — Date of agreement
- $500,000 (dollar_amount) — Principal amount of convertible note
FAQ
What is the interest rate on the convertible promissory note?
The filing does not specify the interest rate on the convertible promissory note.
What is the fixed conversion price for the common stock?
The filing states a fixed conversion price but does not provide the specific dollar amount.
Who is the accredited investor that purchased the note?
The filing refers to an 'accredited investor' but does not disclose their specific name.
What is the maturity date of the convertible promissory note?
The filing does not specify the maturity date of the convertible promissory note.
Are there any covenants or restrictions associated with this note?
The filing mentions certain covenants and restrictions but does not detail them in this excerpt.
Filing Stats: 846 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2024-06-04 09:00:13
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value AREB The Nasdaq Stock Mar
- $111,550 — missory note in the principal amount of $111,550 (the "Note"). An original issue discoun
- $14,550 — "Note"). An original issue discount of $14,550 and fees of $7,000 were applied on the
- $7,000 — l issue discount of $14,550 and fees of $7,000 were applied on the issuance date, resu
- $90,000 — in net loan proceeds to the Company of $90,000. Accrued, unpaid interest and outstandi
- $13,881 — paid in nine payments in the amount of $13,881.78, with the first payment due on June
- $124,936.00 — after (a total payback to the Lender of $124,936.00). Upon the occurrence and during the
Filing Documents
- form8-k.htm (8-K) — 42KB
- ex10-1.htm (EX-10.1) — 87KB
- ex10-2.htm (EX-10.2) — 74KB
- 0001493152-24-022492.txt ( ) — 454KB
- areb-20240528.xsd (EX-101.SCH) — 4KB
- areb-20240528_def.xml (EX-101.DEF) — 26KB
- areb-20240528_lab.xml (EX-101.LAB) — 36KB
- areb-20240528_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 5KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN REBEL HOLDINGS, INC. Date: June 4, 2024 By: /s/ Charles A. Ross, Jr. Charles A. Ross, Jr. Chief Executive Officer 3