Online motorcycle retailer RumbleOn Inc. has raised $14.1 million in a secondary offering, according to a filing Friday with the Securities and Exchange Commission.

The Charlotte-based company said it plans to use the money for working capital and general corporate purposes, which may include purchasing additional inventory held for sale.

It also says it will increase spending on marketing and advertising.

RumbleOn sold 2.3 million shares of its Class B stock at $6.05 per share. The underwriter of the offering was National Securities Corp.

In the first quarter, the company reported revenue of $8.1 million in the first quarter, up from revenue of $38,889 in the first quarter of 2017 and better than the $6.9 million in revenue that analysts had estimated.

However, RumbleOn reported a first quarter net loss of $3.6 million, or 28 cents per share, compared to a net loss of $922,895, or 13 cents per share, in the first quarter of 2017. Analysts were expecting a loss of 27 cents per share.

RumbleOn’s shares closed Friday at $6.33, down 14 cents, or 2.16 percent.