TechFlow News — On February 8, video-sharing platform and cloud services provider Rumble announced a strategic investment of $775 million from Tether.
According to transaction details, Tether purchased 103,333,333 shares of Rumble’s Class A common stock at $7.50 per share. Rumble will allocate $250 million of the proceeds (after transaction expenses) toward supporting its growth initiatives.
In addition, Rumble has completed its previously announced tender offer to repurchase 70 million shares of its Class A common stock for $525 million.
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