AcquisitionsJun 18, 2026, 05:07 PM
Rumble Completes Northern Data Acquisition; Secures 317.5M Loan
AI Summary
Rumble Inc. announced the completion of its business combination with Northern Data AG. To finance this, Rumble's Irish subsidiary, Rumble Freedom First Holding Limited, entered into a secured five-year Credit Agreement with Tether Investments, S.A. de C.V. for 317,533,400.90. Additionally, Tether received a Pre-Funded Warrant to purchase up to 46,719,910 Rumble Class A common shares at an exercise price of $0.0001 per share, in exchange for transferring 50% of an existing loan receivable. The Credit Agreement bears interest at 3.00% p.a. plus EURIBOR and includes a one-time conversion right for Tether into Rumble shares.
Key Highlights
- Rumble Inc. completed its business combination with Northern Data AG.
- Irish subsidiary secured a 317,533,400.90 five-year term facility from Tether Investments, S.A. de C.V.
- Loan matures on June 18, 2031, bearing interest at 3.00% p.a. plus EURIBOR.
- Tether received a Pre-Funded Warrant for 46,719,910 Rumble Class A shares.
- Warrant exercise price is $0.0001 per share.
- Tether has a one-time right to convert the loan into Rumble shares at the greater of 10-day VWAP or $7.88 per share.
- Conversion is subject to a 9.9% voting power cap for Tether and its affiliates.
- Security for the loan includes pledges of Northern Data shares and customary corporate guarantees.
Price Impact
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