Rumble announced on December 20, 2024, that it has entered into a definitive agreement for a strategic investment of $775 million from Tether, the largest company in the digital assets industry. This substantial investment is set to significantly strengthen Rumble's financial position and accelerate its growth initiatives.
Under the terms of the agreement, Rumble will utilize $250 million of the proceeds to support its growth strategies. The remaining proceeds will fund a self-tender offer for up to 70 million shares of its Class A Common Stock at a price of $7.50 per share, providing liquidity to stockholders.
Rumble's Chairman and CEO, Chris Pavlovski, will retain his controlling stake in the company following the transaction. Tether's CEO, Paolo Ardoino, indicated intentions to develop a meaningful relationship with Rumble across advertising, cloud services, and crypto payment solutions, highlighting a shared vision for decentralization and free expression.
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