RideNow Group, Inc.
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $189.0M
- Price
- $4.84
- % Change (Daily % change from the live per-ticker quote feed.)
- -0.72%
- Volume
- 18.3K
About
RumbleON, Inc. utilizes a sophisticated, technology-powered omnichannel platform to streamline the aggregation and distribution of pre-owned vehicles across North America. Its operations are structured across three distinct segments: The Powersports division focuses on the distribution of motorcycles, while its Automotive counterpart handles cars and trucks. The Vehicle Logistics segment rounds out its services by offering transportation solutions for automotive assets, primarily facilitating movement between dealerships and auctions. Through its comprehensive platform, both dealers and individual consumers can engage in buying, selling, trading, and financing a wide range of new and pre-owned vehicles, with options available for both online transactions and in-store experiences. Originally incorporated in 2013 as Smart Server, Inc., the company adopted its current name, RumbleON, Inc., in February 2017. It maintains its headquarters in Irving, Texas.
Quick stats
Shares outstanding39.0M
Computed float16.9M
Float / shares43.4%
Key info
SectorConsumer Cyclical
IndustryAuto - Dealerships
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001596961
Websitehttps://www.ridenow.com
AI Summary
AI-generated1/14
standardbullishdebt offering
RideNow Group, Inc. Announces $220 Million Senior Secured Term Loan Refinancing; In Advanced Discussions for $50 Million Asset Backed Lending (ABL) Facility
RideNow Group closed a new $220 million senior secured term loan with affiliates of Centerbridge Partners at SOFR plus 8.375%, maturing September 25, 2031.
The proceeds refinanced in full the prior Oaktree term loan, eliminating near-term maturity risk, and the company is in advanced talks with Wells Fargo for a cheaper $50 million ABL facility at SOFR plus 2.25%.
Management said the deal caps a transformational quarter that also included the FTC-compliant Clear Price pricing model — which hurt August results — and a Can-Am/Sea-Doo dealer tuck-in acquisition in Tallahassee.
Red flags
- high 8.375% spread on new term loan indicates elevated borrowing cost
- ABL facility remains subject to final credit approval and definitive documentation
- FTC compliant pricing transition caused short-term negative impact on August results