Video platform Rumble and CF Acquisition VI today announced a definitive business combination agreement that values the combined enterprise at $2.1 billion.
If approved, after closing, which is expected in the second quarter of 2022, Rumble expects to list on the Nasdaq.
The transaction is expected to provide approximately $400 million in proceeds to Rumble, including a fully committed PIPE of $100 million and $300 million of cash held in the SPAC’s trust account. Additional earn-outs are possible if the stock price hits certain thresholds.
Rumble said it had 44 million monthly active users in August 2021. That’s about 5% of YouTube’s monthly users. Read more.
