McGuireWoods served as placement agents’ counsel for National Securities
Corp. and Craig-Hallum Capital Group in a
$21.6 million private placement
(PIPE) of Class B common stock by RumbleOn Inc.(NASDAQ: RMBL) The placement
closed Oct. 29.
The transaction funded RumbleOn’s acquisitions of Wholesale LLC, one of the
largest independent U.S. distributors of used cars, and its related
logistics company, Wholesale Express LLC. RumbleOn is an e-commerce
platform that enables consumers and dealers to buy, sell, trade and finance
led the McGuireWoods team, which also included associates
Ellison Johnstone. McGuireWoods has advised National Securities, one of the nation’s largest
broker-dealers, in multiple securities offerings, including the
underwriting of RumbleOn’s
$14.1 million public offering
of Class B common stock in July. National Securities is a subsidiary of
National Holdings Corp., a leading investment banking and asset management
“We are proud of the relationship we have developed with National
Securities and grateful for the opportunity to provide counsel in these
significant transactions,” Older said.
McGuireWoods ranked among the top law firms for advising corporate issuers
and underwriters in U.S. capital markets transactions in the first nine
months of 2018,
according to league tables published by Bloomberg and Thomson Reuters. The firm was honored as Law Firm of the Year in Mergers & Acquisitions magazine’s Mid-Market M&A Awards.
McGuireWoods also is a finalist in 11 deal categories for the
2018 M&A Advisor Awards, which recognize top corporate transactions from the past year and the
firms involved in closing those deals.