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STOCK TITAN

[8-K] RumbleOn, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

RumbleOn, Inc. entered into three commitment letters providing approximately $10.0 million of subordinated loans (each commitment of $3,333,334) to be used to prepay outstanding principal under its term loan. The Subordinated Loans carry a 13.0% per annum interest rate payable semi-annually in-kind, mature in 36 months, and are contractually subordinated to the Company9s senior loans.

The Company and its lenders also executed Amendment No. 10 to the Term Loan Credit Agreement, which extends the senior loan maturity to September 30, 2027, requires a $20.0 million prepayment using subordinated loan proceeds and other funds, reduces the senior loan interest rate by 0.50%, adds reporting covenants and refinancing milestones (commence refinancing prior to Sept 30, 2026 and complete by Nov 30, 2026), modifies financial covenants, and adds a fully earned $2.1 million exit fee. The Board expanded from seven to nine members and appointed Dominick San Angelo and Miran Maric as independent directors, and approved a corporate name change to RideNow Group, Inc. with a ticker change to RDNW effective August 13, 2025.

RumbleOn, Inc. ha sottoscritto tre lettere di impegno per erogare complessivamente circa $10.0 million di prestiti subordinati (ogni impegno di $3,333,334) da utilizzare per l'estinzione anticipata del capitale residuo del suo prestito a termine. I Prestiti Subordinati prevedono un tasso d'interesse annuo del 13.0%, pagabile in natura semestralmente, hanno scadenza a 36 months e sono contrattualmente subordinati ai prestiti senior della Società.

La Società e i suoi finanziatori hanno inoltre firmato la Amendment No. 10 al Term Loan Credit Agreement, che estende la scadenza del prestito senior al 30 settembre 2027, richiede un prepagamento di $20.0 million utilizzando i proventi dei prestiti subordinati e altri fondi, riduce il tasso d'interesse del prestito senior di 0.50%, introduce obblighi di rendicontazione e tappe per il rifinanziamento (avviare il rifinanziamento prima del 30 settembre 2026 e completarlo entro il 30 novembre 2026), modifica i covenant finanziari e aggiunge una commissione di uscita completamente maturata di $2.1 million. Il Consiglio di Amministrazione è stato ampliato da sette a nove membri, nominando Dominick San Angelo e Miran Maric amministratori indipendenti, e ha approvato il cambio della ragione sociale in RideNow Group, Inc. con conseguente modifica del ticker in RDNW, effettiva dal 13 agosto 2025.

RumbleOn, Inc. suscribió tres cartas de compromiso que proveen aproximadamente $10.0 million en préstamos subordinados (cada compromiso de $3,333,334) para utilizarse en el prepago del principal pendiente de su préstamo a plazo. Los Préstamos Subordinados tienen una tasa de interés anual del 13.0%, pagadera semestralmente en especie, vencen en 36 months y están contractualmente subordinados a los préstamos senior de la Compañía.

La Compañía y sus prestamistas también ejecutaron la Amendment No. 10 al Term Loan Credit Agreement, que extiende el vencimiento del préstamo senior hasta el 30 de septiembre de 2027, exige un prepago de $20.0 million utilizando los fondos de los préstamos subordinados y otros recursos, reduce la tasa de interés del préstamo senior en 0.50%, añade obligaciones de reporte y hitos de refinanciamiento (iniciar el refinanciamiento antes del 30 de septiembre de 2026 y completarlo antes del 30 de noviembre de 2026), modifica los convenants financieros y agrega una comisión de salida completamente devengada de $2.1 million. La Junta se amplió de siete a nueve miembros, nombrando a Dominick San Angelo y Miran Maric como directores independientes, y aprobó el cambio de razón social a RideNow Group, Inc. con cambio de ticker a RDNW con efecto a partir del 13 de agosto de 2025.

RumbleOn, Inc.� 기한부 대출의 미지� 원금 선상환에 사용하기 위해 � $10.0 million� 후순� 대�(� 약정� $3,333,334)� 제공하는 3건의 약정서를 체결했습니다. 후순� 대출은 � 13.0%� 이자율이 적용되며 이자� 반기별로 현물(인카인드)� 지급되�, 만기� 36 months이며 회사� 선순� 대출에 대� 계약� 후순위입니다.

회사왶 대주단은 또한 Term Loan Credit Agreement� 대� Amendment No. 10� 체결했으�, 이는 선순� 대출의 만기� 2027� 9� 30�� 연장하고, 후순� 대� 수익� � 기타 자금� 사용� $20.0 million� 선상환을 요구하며, 선순� 대� 금리� 0.50%포인� 인하하고, 보고 의무 � 재융� 이정�(재융자는 2026� 9� 30� 이전� 개시하고 2026� 11� 30�까지 완료) � 추가하고, 재무 약정들을 수정하며, 완전� 발생� $2.1 million� 종료 수수료를 추가합니�. 이사회는 7명에� 9명으� 확대되었� Dominick San AngeloMiran Maric� 독립 이사� 임명했으�, 회사명을 RideNow Group, Inc.� 변경하� 티커� RDNW� 변경하� 것을 2025� 8� 13�부� 승인했습니다.

RumbleOn, Inc. a conclu trois lettres d'engagement fournissant environ $10.0 million de prêts subordonnés (chaque engagement de $3,333,334) destinés au remboursement anticipé du principal impayé de son prêt à terme. Les prêts subordonnés portent un taux d'intérêt annuel de 13.0%, payable semestriellement en nature (in-kind), arrivent à échéance en 36 months et sont contractuellement subordonnés aux prêts senior de la Société.

La Société et ses prêteurs ont également exécuté l'Amendment No. 10 au Term Loan Credit Agreement, qui prolonge l'échéance du prêt senior au 30 septembre 2027, exige un remboursement anticipé de $20.0 million en utilisant les produits des prêts subordonnés et d'autres fonds, réduit le taux d'intérêt du prêt senior de 0.50%, ajoute des obligations de reporting et des jalons de refinancement (démarrer le refinancement avant le 30 septembre 2026 et le terminer d'ici le 30 novembre 2026), modifie les covenants financiers et ajoute des frais de sortie entièrement acquis de $2.1 million. Le Conseil d'administration est passé de sept à neuf membres et a nommé Dominick San Angelo et Miran Maric administrateurs indépendants, et a approuvé le changement de dénomination sociale en RideNow Group, Inc. avec un changement de ticker en RDNW effectif à partir du 13 août 2025.

RumbleOn, Inc. hat drei Verpflichtungsschreiben abgeschlossen, die insgesamt etwa $10.0 million an nachrangigen Darlehen vorsehen (jeweilige Verpflichtung von $3,333,334), die zur vorzeitigen Rückzahlung des ausstehenden Kapitals seines Term Loans verwendet werden sollen. Die Nachrangdarlehen tragen einen jährlichen Zinssatz von 13.0%, zahlbar halbjährlich in Naturalien (in-kind), haben eine Laufzeit von 36 months und sind vertraglich nachrangig gegenüber den Senior-Darlehen des Unternehmens.

Das Unternehmen und seine Kreditgeber haben außerdem die Amendment No. 10 zum Term Loan Credit Agreement unterzeichnet, die die Fälligkeit des Senior-Darlehens auf den 30. September 2027 verlängert, eine $20.0 million-Vorabtilgung unter Verwendung von Mitteln aus den nachrangigen Darlehen und anderen Mitteln verlangt, den Zinssatz des Senior-Darlehens um 0.50% senkt, Berichtspflichten und Refinanzierungsmeilensteine hinzufügt (Refinanzierung vor dem 30. September 2026 beginnen und bis zum 30. November 2026 abschließen), die finanziellen Covenants verändert und eine vollständig fällige Exit-Gebühr in Höhe von $2.1 million hinzufügt. Der Vorstand wurde von sieben auf neun Mitglieder erweitert; Dominick San Angelo und Miran Maric wurden zu unabhängigen Direktoren ernannt, und es wurde die Umfirmierung in RideNow Group, Inc. mit Tickerwechsel auf RDNW beschlossen, wirksam zum 13. August 2025.

Positive
  • Extension of senior loan maturity to September 30, 2027 reduces immediate refinancing pressure
  • Reduction of senior loan interest rate by 0.50% per annum lowers cash interest cost
  • Committed subordinated financing (~$10.0 million) provides immediate liquidity to fund required prepayment
  • Board additions of two independent directors strengthen governance oversight
Negative
  • $20.0 million prepayment requirement of Senior Loans creates near-term cash demand
  • Subordinated loans bear 13.0% interest payable in-kind, increasing principal if unpaid
  • Added refinancing milestones and reporting covenants (commence prior to Sept 30, 2026; complete by Nov 30, 2026) create event-of-default risk if unmet
  • $2.1 million exit fee is fully earned upon Amendment No. 10 and payable at maturity

Insights

TL;DR: Extension and partial rate relief offset by new covenants, a $20M prepayment requirement and a $2.1M exit fee.

Amendment No. 10 materially alters the company9s debt profile by extending senior loan maturity to September 30, 2027 and reducing the margin by 50 basis points, which eases near-term cash interest burden. Offsetting benefits, the agreement requires a $20.0 million prepayment and adds monthly forward cash flow reporting and refinancing milestones that create near-term execution risk. The subordinated financings provide ~$10.0 million of liquidity but at a high in-kind interest cost (13.0% P.A.), increasing effective leverage if interest compounds to principal.

TL;DR: Governance moves are positive, but strict milestone triggers and covenant changes raise default risk if refinancing fails.

The Board9s expansion and appointment of two independent directors improves independence and committee coverage. However, the added milestones requiring a refinancing process and potential default remedies (including requirement to reduce principal to specified thresholds or form a special committee and engage an advisor) increase governance and execution burdens. The $2.1 million exit fee and amended warrant provisions introduce additional stakeholder considerations.

RumbleOn, Inc. ha sottoscritto tre lettere di impegno per erogare complessivamente circa $10.0 million di prestiti subordinati (ogni impegno di $3,333,334) da utilizzare per l'estinzione anticipata del capitale residuo del suo prestito a termine. I Prestiti Subordinati prevedono un tasso d'interesse annuo del 13.0%, pagabile in natura semestralmente, hanno scadenza a 36 months e sono contrattualmente subordinati ai prestiti senior della Società.

La Società e i suoi finanziatori hanno inoltre firmato la Amendment No. 10 al Term Loan Credit Agreement, che estende la scadenza del prestito senior al 30 settembre 2027, richiede un prepagamento di $20.0 million utilizzando i proventi dei prestiti subordinati e altri fondi, riduce il tasso d'interesse del prestito senior di 0.50%, introduce obblighi di rendicontazione e tappe per il rifinanziamento (avviare il rifinanziamento prima del 30 settembre 2026 e completarlo entro il 30 novembre 2026), modifica i covenant finanziari e aggiunge una commissione di uscita completamente maturata di $2.1 million. Il Consiglio di Amministrazione è stato ampliato da sette a nove membri, nominando Dominick San Angelo e Miran Maric amministratori indipendenti, e ha approvato il cambio della ragione sociale in RideNow Group, Inc. con conseguente modifica del ticker in RDNW, effettiva dal 13 agosto 2025.

RumbleOn, Inc. suscribió tres cartas de compromiso que proveen aproximadamente $10.0 million en préstamos subordinados (cada compromiso de $3,333,334) para utilizarse en el prepago del principal pendiente de su préstamo a plazo. Los Préstamos Subordinados tienen una tasa de interés anual del 13.0%, pagadera semestralmente en especie, vencen en 36 months y están contractualmente subordinados a los préstamos senior de la Compañía.

La Compañía y sus prestamistas también ejecutaron la Amendment No. 10 al Term Loan Credit Agreement, que extiende el vencimiento del préstamo senior hasta el 30 de septiembre de 2027, exige un prepago de $20.0 million utilizando los fondos de los préstamos subordinados y otros recursos, reduce la tasa de interés del préstamo senior en 0.50%, añade obligaciones de reporte y hitos de refinanciamiento (iniciar el refinanciamiento antes del 30 de septiembre de 2026 y completarlo antes del 30 de noviembre de 2026), modifica los convenants financieros y agrega una comisión de salida completamente devengada de $2.1 million. La Junta se amplió de siete a nueve miembros, nombrando a Dominick San Angelo y Miran Maric como directores independientes, y aprobó el cambio de razón social a RideNow Group, Inc. con cambio de ticker a RDNW con efecto a partir del 13 de agosto de 2025.

RumbleOn, Inc.� 기한부 대출의 미지� 원금 선상환에 사용하기 위해 � $10.0 million� 후순� 대�(� 약정� $3,333,334)� 제공하는 3건의 약정서를 체결했습니다. 후순� 대출은 � 13.0%� 이자율이 적용되며 이자� 반기별로 현물(인카인드)� 지급되�, 만기� 36 months이며 회사� 선순� 대출에 대� 계약� 후순위입니다.

회사왶 대주단은 또한 Term Loan Credit Agreement� 대� Amendment No. 10� 체결했으�, 이는 선순� 대출의 만기� 2027� 9� 30�� 연장하고, 후순� 대� 수익� � 기타 자금� 사용� $20.0 million� 선상환을 요구하며, 선순� 대� 금리� 0.50%포인� 인하하고, 보고 의무 � 재융� 이정�(재융자는 2026� 9� 30� 이전� 개시하고 2026� 11� 30�까지 완료) � 추가하고, 재무 약정들을 수정하며, 완전� 발생� $2.1 million� 종료 수수료를 추가합니�. 이사회는 7명에� 9명으� 확대되었� Dominick San AngeloMiran Maric� 독립 이사� 임명했으�, 회사명을 RideNow Group, Inc.� 변경하� 티커� RDNW� 변경하� 것을 2025� 8� 13�부� 승인했습니다.

RumbleOn, Inc. a conclu trois lettres d'engagement fournissant environ $10.0 million de prêts subordonnés (chaque engagement de $3,333,334) destinés au remboursement anticipé du principal impayé de son prêt à terme. Les prêts subordonnés portent un taux d'intérêt annuel de 13.0%, payable semestriellement en nature (in-kind), arrivent à échéance en 36 months et sont contractuellement subordonnés aux prêts senior de la Société.

La Société et ses prêteurs ont également exécuté l'Amendment No. 10 au Term Loan Credit Agreement, qui prolonge l'échéance du prêt senior au 30 septembre 2027, exige un remboursement anticipé de $20.0 million en utilisant les produits des prêts subordonnés et d'autres fonds, réduit le taux d'intérêt du prêt senior de 0.50%, ajoute des obligations de reporting et des jalons de refinancement (démarrer le refinancement avant le 30 septembre 2026 et le terminer d'ici le 30 novembre 2026), modifie les covenants financiers et ajoute des frais de sortie entièrement acquis de $2.1 million. Le Conseil d'administration est passé de sept à neuf membres et a nommé Dominick San Angelo et Miran Maric administrateurs indépendants, et a approuvé le changement de dénomination sociale en RideNow Group, Inc. avec un changement de ticker en RDNW effectif à partir du 13 août 2025.

RumbleOn, Inc. hat drei Verpflichtungsschreiben abgeschlossen, die insgesamt etwa $10.0 million an nachrangigen Darlehen vorsehen (jeweilige Verpflichtung von $3,333,334), die zur vorzeitigen Rückzahlung des ausstehenden Kapitals seines Term Loans verwendet werden sollen. Die Nachrangdarlehen tragen einen jährlichen Zinssatz von 13.0%, zahlbar halbjährlich in Naturalien (in-kind), haben eine Laufzeit von 36 months und sind vertraglich nachrangig gegenüber den Senior-Darlehen des Unternehmens.

Das Unternehmen und seine Kreditgeber haben außerdem die Amendment No. 10 zum Term Loan Credit Agreement unterzeichnet, die die Fälligkeit des Senior-Darlehens auf den 30. September 2027 verlängert, eine $20.0 million-Vorabtilgung unter Verwendung von Mitteln aus den nachrangigen Darlehen und anderen Mitteln verlangt, den Zinssatz des Senior-Darlehens um 0.50% senkt, Berichtspflichten und Refinanzierungsmeilensteine hinzufügt (Refinanzierung vor dem 30. September 2026 beginnen und bis zum 30. November 2026 abschließen), die finanziellen Covenants verändert und eine vollständig fällige Exit-Gebühr in Höhe von $2.1 million hinzufügt. Der Vorstand wurde von sieben auf neun Mitglieder erweitert; Dominick San Angelo und Miran Maric wurden zu unabhängigen Direktoren ernannt, und es wurde die Umfirmierung in RideNow Group, Inc. mit Tickerwechsel auf RDNW beschlossen, wirksam zum 13. August 2025.

FALSE000159696112/3100015969612025-08-092025-08-09

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT 
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 9, 2025
2020_Rumble_On_Wordmark_RGB_Gray_Green white.jpg
RumbleOn, Inc.
(Exact name of registrant as specified in its charter)
Nevada

001-38248

46-3951329

(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
901 W. Walnut Hill Lane, Suite 110A
Irving, Texas

75038

(Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code (214) 771-9952

Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class B Common Stock, $0.001 par valueRMBLThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨



Item 1.01.    Entry into a Material Definitive Agreement

Subordinated Loans Commitment Letters

On August 10, 2025, RumbleOn, Inc. (the “Company”) entered into separate commitment letters (collectively, the “Commitment Letters”) with each of Stone House Capital Management, LLC, Mark Tkach and Bill Coulter (collectively, the “Commitment Parties”), pursuant to which each Commitment Party has committed to make $3,333,334 of subordinated loans to the Company (collectively, the “Subordinated Loans”). The aggregate gross proceeds of the Subordinated Loans, or approximately $10 million, shall be used by the Company to prepay outstanding principal amounts owed under the Credit Agreement (as defined below). The Subordinated Loans will bear interest at a rate per annum of 13.0% per annum, payable semi-annually in-kind by increasing the principal amount of the Subordinated Loans. The Subordinated Loans will mature thirty-six months after the date of funding. The Subordinated Loans will be contractually subordinated in right of payment to the loans outstanding under the Company’s Credit Agreement (the “Senior Loans”). Each of the Commitment Parties has agreed to hold and make the commitments available until 11:59 p.m., Eastern Time, on September 5, 2025.

The foregoing description of the Commitment Letters is qualified in its entirety by reference to the full text of the form of the Commitment Letter, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Tenth Amendment to Term Loan Credit Agreement

The Company has a term loan credit agreement (as amended, the “Credit Agreement”) among the Company, as borrower, the lenders party thereto (the “Lenders”), and Oaktree Fund Administration, LLC, as administrative agent and collateral agent. On August 10, 2025, the parties to the Credit Agreement executed Amendment No. 10 to the Credit Agreement (“Amendment No. 10”), which, among other things: (i) extended the maturity date of the Senior Loans from August 31, 2026 to September 30, 2027; (ii) requires the Company to prepay $20.0 million of the Senior Loans using the proceeds of the Subordinated Loans and other funds; (iii) reduced the interest rate applicable to the Senior Loans by 0.50% per annum; (iv) added certain reporting covenants, including a monthly 12-month forward cash flow forecast and variance reports; (v) added milestones requiring the Company to commence a refinancing process prior to September 30, 2026 and complete the refinancing on or prior to November 30, 2026, and provided that failure to achieve such milestones will be an event of default under the Credit Agreement unless, prior to such milestone dates the Company (a) reduces the outstanding principal amount of the Loans to the lesser of (1) $150 million and (2) 3.25x Consolidated EBITDA or (b) both (1) forms a special committee of the Company’s board of directors (the “Board”) to negotiate and recommend to the Board for approval any strategic alternatives, including any recapitalization, refinancing, any transaction resulting in a change of control or a sale of all or substantially all assets of the Company and its subsidiaries and (2) engages an investment banker or financial advisor acceptable to the Administrative Agent to evaluate and execute the strategic alternatives of the Company, (vi) modified the financial maintenance covenants in the Credit Agreement, and (vii) added an exit fee to the Credit Agreement, which exit fee became fully earned upon the effectiveness of Amendment No. 10 and is due and payable on the maturity date of the Senior Loans, in an amount equal to $2.1 million.

After giving effect to Amendment No. 10, borrowings under the Credit Agreement will bear interest at a rate per annum equal, at the Company’s option, to either (a) SOFR (with a floor of 3.00%), plus an applicable margin of 7.75% per annum or (b) a fluctuating adjusted base rate in effect from time to time, plus an applicable margin of 6.75% per annum. In connection with Amendment No. 10, the Company will pay a customary exit fee.

Under Amendment No. 10, the Company has also agreed to, on or before August 26, 2025, amend and restate the warrants, dated August 14, 2023, between the Company and each applicable Lender to (i) reset the strike price at a 25% premium to the 30-day post-announcement volume weighted average trading price of the Company Class B Common Stock and (ii) extend the term of such warrants to five years from the effective date of Amendment No. 10.

The foregoing description of Amendment No. 10 is qualified in its entirety by reference to the full text of Amendment No. 10, a copy of which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated by reference herein.




Item 2.02.    Results of Operations and Financial Condition.
On August 11, 2025, the Company issued a press release announcing its results for the second quarter ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained under Item 2.02 in this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and, as a result, such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 2.03.    Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The disclosure of Amendment No. 10 included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 9, 2025, the Board increased the size of the Board from seven to nine members and appointed Mr. Dominick San Angelo and Mr. Miran Maric as directors of the Company, effective as of August 9, 2025. The Board determined that Messrs. San Angelo and Maric are independent directors for purposes of the Nasdaq listing requirements. Effective as of August 10, 2025, Mr. San Angelo was appointed as a member of each of the Audit Committee and the Nominating and Corporate Governance Committee of the Board and Mr. Maric was appointed as a member of the Compensation Committee of the Board.

Mr. San Angelo, age 35, has served as a shareholder at the law firm Gallagher & Kennedy since January 2023, where he was previously an associate beginning in September 2016. In addition to his legal practice, Mr. San Angelo has been an adjunct professor of business ethics and law at the Colangelo College of Business at Grand Canyon University since August 2019. Mr. San Angelo served as a member of the Board of Directors of the Scottsdale Area Chamber of Commerce from 2020 to 2022. Mr. San Angelo holds juris doctorate and master of arts degrees from Duke University and bachelor of science in business administration and bachelor of arts degrees from the University of Arizona.

Mr. Maric, age 36, has served as a co-founder of Lady Luck HQ, a gaming marketing brand, since December 2024. Prior to joining Lady Luck HQ, Mr. Maric served as the Senior Vice President, Strategy & Innovation of Asbury Automotive Group (NYSE: ABG) from February 2022 to November 14, 2024. Mr. Maric joined Asbury in November 2015 as Director of Marketing and was appointed as Vice President & Chief Marketing Officer in October 2016. Prior to joining Asbury, Mr. Maric served as Vice President of Digital Strategy for the Larry H. Miller Dealerships from June 2013 to October 2015. From October 2011 to May 2013, Mr. Maric held various management positions with Fiat Chrysler Automobiles including Lead National Digital Marketing Manager, Digital Marketing Manager and District Manager. Mr. Maric co-founded Logic Wireless, an advanced cell phone manufacturer company, in 2008 and served as its Chief Operating Officer until March 2011. Mr. Maric holds a bachelor’s degree in economics and business marketing from the University of Arizona.

Messrs. San Angelo and Maric will participate in the Company’s non-employee director compensation program, which is described under the section titled “Director Compensation” in the Company’s proxy statement for its 2025 annual meeting of shareholders, which was filed with the Securities and Exchange Commission on April 23, 2025.

There are no family relationships between Messrs. San Angelo and Maric and any Company director or executive officer, and no arrangements or understandings between either Messrs. San Angelo or Maric and another person pursuant to which they were selected as a director. There are no related party transactions between the Company and Messrs. San Angelo and Maric which would require disclosure under Item 404 of Regulation S-K.



Item 5.03.    Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Years

On August 9, 2025, the Company’s Board of Directors approved the change in the Company’s name to “RideNow Group, Inc.” (the “Name Change”) and the change in the Company’s trading symbol to “RDNW” on The Nasdaq Stock Market (the “Symbol Change”), each effective August 13, 2025.

On August 11, 2025, to effectuate the Name Change, the Company filed a Certificate of Amendment to the Articles of Incorporation of the Company, as amended (the “Charter Amendment”) with the Secretary of State of the State of Nevada, with an effective date of August 13, 2025.

Pursuant to Nevada Revised Statutes Section 78.390(8), no shareholder approval was required for the Charter Amendment because it only related to a name change. A copy of Charter Amendment as filed with the Secretary of State of the State of Nevada is filed herewith as Exhibit 3.1 and is incorporated herein by reference.

The Company’s Board of Directors also approved an amendment and restatement of the Company’s Amended and Restated Bylaws, as amended, (the “Second Amended and Restated Bylaws”), effective August 13, 2025, to reflect the Name Change of the Company. A copy of the Second Amended and Restated Bylaws is filed herewith as Exhibit 3.2 and is incorporated herein by reference.

As of the opening of trading on August 13, 2025, the ticker symbol of the Company’s Class B Common Stock on The Nasdaq Stock Market will be “RDNW”. The Name Change and the Symbol Change do not affect the rights of the Company’s security holders, creditors, customers, or suppliers. Security holders do not need to take any action in connection with the Name Change or the Symbol Change. The CUSIP number for the Company’s Class B Common Stock will remain 781386305.

Item 7.01 Regulation FD Disclosure
On August 11, 2025, the Company issued a press release announcing the Name Change and the Symbol Change and the relocation of its corporate headquarters from Irving, Texas to Chandler, Arizona, each effective August 13, 2025. A copy of the press release is furnished hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Item 7.01 as well as in Exhibit 99.1 is furnished and shall not be deemed to be “filed” for purposes of Section 18 of the “Exchange Act, or otherwise subject to the liabilities of that section, and such information shall not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act or the Exchange Act.
Item 9.01.    Financial Statements and Exhibits.
(d)Exhibits
Exhibit No.Description
3.1
Certificate of Amendment to Articles of Incorporation, as amended, filed with Secretary of State of the State of Nevada, effective as of August 13, 2025.
3.2
Second Amended and Restated Bylaws, effective as of August 13, 2025.
10.1
Form of Commitment Letter, dated as of August 10, 2025, by and between RumbleOn, Inc. and each Lender party thereto.
10.2
Amendment No. 10 to the Term Loan Credit Agreement, dated August 10, 2025, by and among RumbleOn, Inc., the Subsidiary Guarantors party thereto, the Lenders party thereto, and Oaktree Fund Administration, LLC, as administrative agent and collateral agent.
99.1
Press Release, dated August 11, 2025.
104Cover Page Interactive Data File (embedded within the Inline XBRL document).



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.
RUMBLEON, INC.
Date: August 11, 2025By:  /s/ Michael Quartieri
Michael Quartieri
Chairman, Chief Executive Officer, and Interim Chief Financial Officer

FAQ

What subordinated financing did RumbleOn (RMBL) secure?

Three commitment letters totaling approximately $10.0 million (each party committing $3,333,334) to fund subordinated loans.

What are the key terms of the Subordinated Loans?

13.0% per annum interest payable semi-annually in-kind, 36-month maturity, and contractually subordinated to senior loans.

How did Amendment No. 10 change the senior loan terms?

It extends maturity to September 30, 2027, requires a $20.0 million prepayment, reduces the interest margin by 0.50%, adds covenants and a $2.1 million exit fee.

What refinancing milestones did the amendment add?

The Company must commence a refinancing process prior to Sept 30, 2026 and complete refinancing by Nov 30, 2026, or meet alternate principal-reduction or governance steps.

When is the corporate name and ticker change effective?

The Company will change its name to RideNow Group, Inc. and ticker to RDNW effective August 13, 2025.

Who were appointed to the Board and are they independent?

The Board appointed Dominick San Angelo and Miran Maric effective August 9, 2025; the Board determined they are independent for Nasdaq purposes.
Rumbleon Inc

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Auto & Truck Dealerships
Services-computer Programming Services
United States
IRVING