Rumble Stock Lists on Nasdaq Stock Exchange Under Symbol ‘RUM’
Rumble holds nearly all cash in trust with 0.1% total redemption
Longboat Key, Florida When New York, September 16, 2022 /PRNewswire/ — Video-sharing platform Rumble Inc. (“Rumble”) and CF Acquisition Corp. VI (Nasdaq: CFVI) today announced the completion of a previously announced business combination. The merger, completed today, was approved at a special meeting of CFVI’s stockholders. September 15, 2022The combined company will operate as Rumble Inc., and its common stock and warrants will begin trading on the NASDAQ Stock Exchange under the ticker symbols “RUM” and “RUMBW,” respectively. Monday, September 19, 2022.
This transaction will give Rumble about $400 million total revenue including approx. $85 million of proceeds from PIPE loans, $15 million from a forward purchase investment, and approximately $300 million of cash held in a trust account. After payment of transaction costs, the net proceeds will go towards attracting new content creators to the Rumble and Locals platforms, continuing to build Rumble’s independent infrastructure, expanding Rumble’s team, and launching strong marketing of the platform and services. , will be used to fund future acquisitions. For other general corporate purposes.
“Today is a great milestone for our company and one I have been looking forward to for a long time.” Chris Pavlovsky, Founder and CEO of Rumble. “This deal will allow Rumble to fund a wide range of business initiatives, including the development of independent infrastructure, allowing us to continue adding top creators to our platform. Redemptions from all CFVI shareholders are near zero, and cash in trusts.
Finally, I would like to thank the Rumble employees who have worked tirelessly to make us who we are today.Congratulations to the entire Rumble team on this incredible achievement.” Chris Pavlovsky.
Howard RatnickCantor Fitzgerald and CFVI Chairman and CEO said:
advisor
Cantor Fitzgerald served as CFVI’s financial and capital markets advisor. Hughes Hubbard & Reed LLP, Bennett Jones LLP, and Ellenoff Grossman & Schole LLP acted as legal advisors to his CFVI.
Guggenheim Securities, LLC acted as exclusive financial advisor to Rumble. Oppenheimer & Co. Inc. and his DA Davidson & Co. acted as Rumble’s capital markets advisors. Wilkie Farr & Gallagher LLP and DLA Piper Canada LLP acted as legal counsel to Rumble.
Cantor Fitzgerald and Guggenheim Securities, LLC acted as placement agents for the PIPE financing.
About Rumble
Rumble is a high-growth, neutral video platform, creating a rails and independent infrastructure designed to be immune to cancellation culture. Rumble’s mission is to return the internet to its roots by making it free and open again. For more information, visit investors.rumble.com.
About CF Acquisition Corp. VI
CFVI is a blank check company led by a Chairman and CEO. Howard W. Ratnick Sponsored by Kantor Fitzgerald.
About Kantor Fitzgerald
With more than 12,000 employees, Cantor Fitzgerald is one of the world’s leading financial services groups, at the forefront of financial and technological innovation, and has been a proven and resilient leader for 77 years. Cantor Fitzgerald is a premier investment bank serving over 5,000 institutional investors worldwide, including fixed income and equity capital markets, investment banking, SPAC underwriting and PIPE placements, prime brokerage and its global Recognized strength in commercial real estate on sales platform. Cantor Fitzgerald & Co. is one of 24 primary dealers that do business with the Federal Reserve Bank. New YorkFor more information, please visit www.cantor.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the future expectations, hopes, beliefs, intentions or strategies of Rumble and its management. “predict”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “could”, “could”, Expressions such as “plan”, “may”, “could”, “project”, “predict”, “should”, “will” are forward-looking statements. The absence of these words does not mean that the statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to assumptions, risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to act as guarantees, guarantees, projections or conclusive statements of fact or possibility and are not relied upon by investors. should not be. Actual events or circumstances may be difficult or impossible to predict and differ from assumptions. Many real-life events and situations are out of Rumble’s control. A number of factors could cause actual future events to differ from the forward-looking statements in this press release. the risk that the business combination will disrupt Rumble’s current plans and operations; Expenses related to business combinations. the impact of competitors on Rumble’s current and future business; unexpected costs; the ability to maintain Rumble’s stock listing on the Nasdaq, changes in laws and regulations affecting Rumble’s business, the ability to execute business plans, forecasts and other expectations after the completion of the business combination; The associated additional opportunities, ability to identify and realize risks, Rumble’s limited operating history, Rumble’s business development and expected timing of business milestones, Rumble’s ability to achieve or sustain profitability and generate cash. The current and future state of the global economy, including the risks associated with the inability to generate, the consequences of impacts, the impact of the COVID-19 pandemic, the impact on Rumble, its business and the markets in which it operates, and whether Rumble is an existing content provider and users, the ability to attract new content providers and customers; Rumble’s inability to effectively manage growth; and the enforceability of Rumble’s intellectual property. Infringement of the intellectual property rights of others, the likelihood and impact of cyber-related attacks, events or issues affecting Rumble, its business and operations, and its ability to recruit, train and retain qualified personnel. The preceding list of factors is not exhaustive. Carefully consider the foregoing factors and other risks and uncertainties set forth in the “Risk Factors” section of CFVI’s registration statement on Form S-4 filed with the Securities and Exchange Commission (“SEC”) is needed. August 12, 2022CFVI Form 10-Q filed with the SEC August 15, 2022 Other documents CFVI and Rumble have filed or will file with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events or results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements. Rumble undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Rumble does not guarantee that it will meet its expectations.
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Source rumble and CFVI
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