- Rumble executes a tender offer, purchasing 70,000,000 shares and securely reinforcing its foothold in cloud-based video platforms worldwide.
- Chris Pavlovski retains super-majority voting authority, preserving existing board control and ensuring continuity for key decisions at Rumble.
Rumble (NASDAQ: RUM) secured $775 million from Tether ($USDT). Tether bought 103,333,333 shares of Rumble Class A Common Stock at $7.50 per share. Rumble will allocate $250 million of these funds, after transaction expenses, to expand its operations.
Rumble also completed a tender offer for up to 70,000,000 shares of its Class A common stock. By the February 4, 2025 deadline, 70,061,168 shares were validly tendered. The company accepted 70,000,000 shares, on a pro-rata basis, resulting in a total outlay of $525 million, excluding fees.
Chris Pavlovski maintains super-majority voting authority, and Rumble’s board remains unchanged. This framework supports continued governance while providing resources for Rumble’s growth.
Over the past few years, Tether has become a symbol of financial inclusion, reaching more than 400 million users. Meanwhile, this new transaction grants Rumble gross proceeds of $775 million and underscores the growing interaction between content platforms and digital currencies.
As part of the deal, Tether obtained 103,333,333 shares of Rumble Class A Common Stock at $7.50 per share, creating substantial capital for Rumble. The company plans to allocate $250 million of these funds, after necessary expenses, to support key growth initiatives.
The arrangement reflects Rumble’s aim to reinforce its presence in the market while maintaining a user-driven approach. Furthermore, Tether involvement in this project adds extra resources that may bolster Rumble’s service offerings over time.
Rumble has completed a tender offer aimed at purchasing up to 70,000,000 shares of its Class A common stock. The offer ended on February 4, 2025, attracting 70,061,168 shares. Rumble accepted 70,000,000 shares for acquisition on a pro-rata basis, except for odd-lot holders who received full acceptance.
This resulted in a total payment of $525 million, not including fees tied to the process. Moreover, the depositary will promptly distribute funds for the purchased shares and return any that were not taken.
