Brief: Rumble Announces $775 Million Strategic Investment From Tether

Rum

20/12/2024 23:32

Dec 20 (Reuters) - Rumble Inc  RUM.O :
    * RUMBLE ANNOUNCES $775 MILLION STRATEGIC INVESTMENT FROM
TETHER
    * RUMBLE INC - TO USE $250 MILLION FOR GROWTH INITIATIVES
    * RUMBLE INC: WILL USE $250 MILLION OF PROCEEDS TO FURTHER
SOLIDIFY BALANCE SHEET AND ACCELERATE GROWTH INITIATIVES
    * RUMBLE INC - CHRIS PAVLOVSKI TO RETAIN CONTROLLING STAKE
IN
RUMBLE
    * RUMBLE INC - REMAINING PROCEEDS TO FUND SELF TENDER OFFER
FOR 70
MILLION SHARES OF  CLASS A COMMON STOCK
    * RUMBLE:  TETHER TO OWN MINORITY POSITION OUTSTANDING CO'S
COMMON
STOCK BUT TO NOT HAVE RIGHT TO DESIGNATE ANY MEMBERS OF BOARD

Source text:  ID:nGNX5t4WZ9 
Further company coverage:  RUM.O 

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