Shareholders of CF Acquisition VI voted today to take the video platform Rumble public, CNBC reports.
Rumble was founded as a YouTube alternative and hosts channels for those kicked off the platform, including Infowars host Alex Jones and multiple QAnon influencers. It is scheduled to go public Monday under the ticker “RUM.” The blank check company set to take it public is led by Cantor Fitzgerald CEO Howard Lutnick.
The SPAC noted that only 0.1% of its 30 million public shares were redeemed.
Rumble, which says it has 78 million global monthly viewers, recently announced that it is launching exclusive shows from actor Russell Brand and journalist Glenn Greenwald. Rumble also manages ad sales for former President Donald Trump’s Truth Social platform, which Trump founded after he was banned from Twitter following the Jan. 6, 2021, Capitol riot.
As announced in December, assuming no redemptions by CFVI stockholders and prior to transaction expenses, the deal would provide approximately $400 million of proceeds at close, including $100 million from a PIPE and $300 million of cash held in the SPAC’s trust account. Read more.
