Exhibit 10.1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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.
Effective July 1, 2023, in connection with establishing a vendor relationship with Menards to sell the Registrant’s safes and ammo lockers, the Registrant entered into a Sponsorship Agreement (the “Sponsorship Agreement”) with Tony Stewart Racing Nitro, LLC, d/b/a TSR Nitro (the “TSRN”), a race team operating a Funny Car Team competing full time with the NHRA (the “Series”). The Registrant agreed to be the primary sponsor of TSRN’s Funny Car Team and Driver participation in the Series on a full-time basis as the “Official Gun Safe Supplier” of “Tony Steward Racing Nitro.” Under the terms of the Sponsorship Agreement, the Registrant agreed to a sponsorship fee in the total amount of up to $800,000. The initial term of the Sponsorship Agreement runs through December 31, 2023 and shall automatically renew thru July 31, 2025 (or after ten (10) 2025 season races, whichever comes first) unless TSRN elects in writing to terminate following the 2023 season.
The Sponsorship Agreement contains, among other provisions, certain representations and warranties by the parties, intellectual property protection covenants, certain indemnification rights in favor of each party and customary confidentiality provisions.
The foregoing description of the Sponsorship Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sponsorship Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information described in Item 1.01 above relating to the Sponsorship Agreement is incorporated herein by reference into this Item 2.03.
Item 7.01 Regulation FD Disclosure.
On July 7, 2023, TSRN issued a press release titled “American Rebel Joins Tony Steward Racing.” A copy of the press release is attached hereto as Exhibit 99.1.
The information in Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to Item 7.01 of this Current Report on Form 8-K in such a filing.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
| Exhibit Number | Description | |
| 10.1 | Sponsorship Agreement dated July 1, 2023 | |
| 99.1 | TSR Press Release dated August 7, 2023 | |
| 104 | Cover Page Interactive Data File |
| 2 |
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: August 7, 2023 | By: | /s/ Charles A. Ross, Jr. |
| Charles A. Ross, Jr. | ||
| Chief Executive Officer | ||
| 3 |
Exhibit 10.1
Exhibit 99.1
American Rebel Joins Tony Stewart Racing
American Rebel to Serve as Primary Sponsor of Matt Hagan’s Dodge Charger SRT Hellcat Funny Car at the Menards NHRA Nationals Presented by PetArmor and at the NHRA Midwest Nationals
BROWNSBURG, Ind. (August 7, 2023) – American Rebel has partnered with Tony Stewart Racing (TSR), with a multi-year agreement, in the NHRA Camping World Drag Racing Series, with the Kansas-based company highlighting its residential safes on the Dodge Charger SRT Hellcat Funny Car of three-time champion Matt Hagan.
American Rebel (NASDAQ: AREB) will serve as the primary sponsor of Hagan during the Menards NHRA Nationals Presented by PetArmor August 11-13 at Heartland Motorsports Park. The orange and black car design will feature American Rebel on the hood and side panels of Hagan’s 11,000-horsepower machine. American Rebel will also be Hagan’s primary sponsor at the NHRA Midwest Nationals June September 29-October 1 at World Wide Technology Raceway. American Rebel will be featured in an associate partner position for the remainder of 2023 and the 2024 season, with 2024 primary races to be announced at a later date.
“We are absolutely thrilled about our new partnership with Tony Stewart Racing and Menards, which showcases our industry-leading gun safes and ammo lockers,” said Andy Ross, CEO, American Rebel. “We look forward to burning patriotic nitro with driver Matt Hagan. This is the perfect fit for the American Rebel brand and American Rebel attitude. We are looking forward to welcoming Matt and TSR to our patriotic family.”
American Rebel builds one of the most desirable residential safes on the market. Their Black Smoke safes come in six different sizes. They are specifically designed to meet the needs of homeowners and firearm aficionados.
American Rebel positions itself as “America’s Patriotic Brand.” They recognize a growing need to protect yourself, your family, your neighbors or even a room full of strangers. That need is in the forethought of every product they design.
“We’re proud to have American Rebel join our race team. Their core values fit perfectly within our organization,” said team owner Tony Stewart. “Together, we can support patriotism, honesty, reliability, loyalty, service and innovation.”
Hagan, a winner of four Funny Car events so far this season, is looking forward to representing American Rebel.
“Everyone knows I’m a country boy that does a lot of hunting and fishing,” Hagan said. “I have quite a few safes, so I’m looking forward to adding American Rebel to my collection soon. I’m excited to have a partner like this come onboard at TSR. We have a lot of great partners, and this will be a great addition as well. We’ll be at Menards for a signing ahead of the Menards NHRA Nationals Presented by PetArmor, so people can check them out there also. We have a couple good races coming up and hopefully we can do well for this new partner. It’s always good to be able to protect your belongings from fire and theft, so I can’t wait to get my hands on one of their safes soon.”
Hagan will be making a Menards store appearance on Thursday, August 10 from 5:30-7:00 p.m. CDT in Topeka, Kansas to promote the new partnership between American Rebel, Tony Stewart Racing and Menards.
-TSR-
Contact Ashley Wilson
Tony Stewart Racing
(303) 594-8147 or Ashey@tonystewart.com