Mergers & Acquisitions ·
RUM Group Inc. completed a business combination with Northern Data AG and entered into a secured five-year credit…
RUMRUM Group Inc.
RUM Group Inc. completed a business combination with Northern Data AG and entered into a secured five-year credit agreement with Tether Investments, S.A. de C.V. for a facility of €317,533,400.90. The facility bears interest at EURIBOR plus 3.00% p.a. and includes a one-time conversion right for Tether to convert the facility into Rumble Class A common stock at a price equal to the greater of the 10-day VWAP or $7.88 per share. As consideration for the transfer of a loan receivable, the company issued a pre-funded warrant to Tether for up to 46,719,910 shares at $0.0001 per share. RUM Group Inc. is a technology company that provides video hosting and streaming services.