Press release

RumbleOn, Inc. Announces Closing of $9.5 Million Common Stock Private Offering

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RumbleOn, Inc. (NASDAQ: RMBL) today announced the closing of its
previously announced private placement, pursuant to Regulation D under
the Securities Act of 1933, as amended, of 1,900,000 shares of its Class
B Common Stock at a price of $5.00 per share.

JMP Securities LLC acted as placement agent for the private placement.
National Securities Corporation, a wholly-owned subsidiary of
National Holdings Corporation (NasdaqCM: NHLD), and Craig-Hallum Capital
Group LLC acted as the Company’s financial advisors for the private

The aggregate net proceeds from the private placement were approximately
$8.8 million, after deducting placement agent fees and estimated
offering expenses.

RumbleOn intends to use the net proceeds from the private placement for
general corporate purposes, which may include increased spending on
marketing and advertising, and expenditures necessary to grow the
business. Pending these uses, RumbleOn may invest the net proceeds in
short-term interest-bearing investment grade instruments.

Akerman LLP acted as legal counsel to RumbleOn, and McGuireWoods LLP and
Goodwin Procter LLP each acted as legal counsel to JMP Securities LLC.

About RumbleOn, Inc.

RumbleOn (NASDAQ: RMBL) is an innovative e-commerce company whose
mission is to simplify how dealers and customers buy, sell, trade, or
finance pre-owned vehicles through one online location. Leveraging its
capital-light network of 17 regional partnerships and innovative
technological solutions, RumbleOn is disrupting the old-school pre-owned
vehicle supply chain by providing users with the most efficient, timely
and transparent transaction experience. For additional information,
please visit RumbleOn’s website at
Also visit the Company on Facebook, LinkedIn, Twitter, Instagram,
YouTube and Pinterest.

Forward-Looking Statements

This press release includes forward-looking statements within the
meaning of Section 27A of the Act and Section 21E of the Securities
Exchange Act of 1934. These statements involve risks and uncertainties
that could cause actual results to differ materially, including, but not
limited to, the anticipated use of net proceeds of the private placement
which could change as a result of market conditions or for other
reasons. Forward-looking statements may be identified by the use of the
words “may,” “will,” “expect,” “intend,” and other similar expressions.
These forward-looking statements are based on estimates and assumptions
by RumbleOn’s management that, although believed to be reasonable, are
inherently uncertain and subject to a number of risks. Actual results
may differ materially from those anticipated or predicted by RumbleOn’s
forward-looking statements. All forward-looking statements are subject
to other risks detailed in RumbleOn’s Annual Report on Form 10-K for the
year ended December 31, 2018 and the risks discussed in RumbleOn’s other
filings with the Securities and Exchange Commission. You are cautioned
not to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. All forward-looking statements are
qualified in their entirety by this cautionary statement, and RumbleOn
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof, except as
required by applicable law.