-- Rumble (RUM) said Monday it launched its exchange offer for all outstanding Northern Data shares as part of its planned business combination with the Germany-based AI and high-performance computing infrastructure provider.
Under the offer, shareholders will receive 2.0281 newly issued shares of Rumble Class A common stock for each Northern Data share. The tender offer period ends at 12:01 am ET on May 9, according to a statement.
Rumble said it has secured commitments from shareholders holding approximately 72% of Northern Data's outstanding shares. The company added that the tender offer has no minimum acceptance threshold.
Northern Data shares are expected to be delisted from the open market promptly following the close of the tender offer, the statement said.
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