Tether making $775M Strategic Investment in Rumble

December 23, 2024

DENVER, Colo., Dec 23, 2024 (247marketnews.com)- Rumble (NASDAQ: RUM)  reported, after Friday’s market close, that it entered into a $775 million strategic investment agreement with Tether, which Rumble plans on using $250 million to grow the platform’s reach and the remainder to fund a tender offer for up to 70 million of the Rumble’s common shares at $7.50. The offering is expected to close in the first quarter of 2025.

Tether will become a minority owner Rumble’s outstanding common stock, while Rumble’s chairman and CEO, Chris Pavlovski, retains his controlling stake in Rumble.

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