If you’re confident Rumble’s star will continue to rise, you may want to consider it ahead of the merger close. CFVI is a blank check company led by Chairman and Chief Executive Officer Howard W. Lutnick and sponsored by Cantor Fitzgerald. 5 Assumes no redemptions by CFVI’s public stockholders and prior to payment of transaction expenses and stock repurchase.
- Following the deal announcement, investors rushed to get their hands on CFVI stock, driving it up to nearly $20.
- In SPAC arrangements, investors have the right to withdraw or redeem their money before they vote on the merger.
- “It is a great way to reach the American people in a time of unprecedented assault on free speech in our country by Big Tech tyrants,” Harrington told Reuters of Rumble.
- CFVI and Rumble and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from CFVI’s stockholders in connection with the proposed transactions.
But investors should also remember that since CFVI didn’t shoot up in the same unprecedented way that DWAC did, it also may not fall by as much. The stock is certainly worth watching as 2022 market momentum continues to mount. On the date of publication, Louis Navellier had a long position in GOOG. The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Nevertheless, compared to its higher-profile counterpart, CFVI stock appears to be the stronger choice.
Assuming no redemptions by CFVI stockholders and prior to giving effect to transaction expenses, the transaction will provide approximately $400 million of proceeds at close, including $100 million of proceeds from a PIPE financing and $300 million of cash held in the trust account of CFVI. Additional InformationThis press release relates to a proposed transaction between Rumble and CFVI. In connection with the transaction described herein, CFVI intends to file relevant materials with the SEC, including a registration statement on Form S-4, which will include a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all CFVI stockholders. CFVI will also file other documents regarding the proposed transaction with the SEC. Participants in the SolicitationCFVI, Rumble and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from CFVI’s stockholders in connection with the proposed transaction.
Entertainment & Media
Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by CFVI through the website maintained by the SEC at The deal between CF Acquisition and Rumble values Rumble at a $2.2 billion enterprise value. CF Acquisition currently trades at a market cap of about $437 million and has amassed 44 million monthly average users, according to the company. CF Acquisition is similar to the ascent of the SPAC Digital World Acquisition Corp (DWAC -6.03%), which is attempting to merge with and take public Truth Social, the alternative social media platform backed by former President Donald Trump.
Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CFVI and Rumble. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Rumble and CFVI assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
- Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available.
- The rest of the list includes Emmy-nominated producer Nancy Armstrong and asset manager Robert Arsov.
- Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by CFVI through the website maintained by the SEC at
- Rumble has created rails and independent infrastructure that are immune to cancel culture.
- CFVI’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of CFVI in the Registration Statement.
CFVI and Rumble and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from CFVI’s stockholders in connection with the proposed transactions. CFVI’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of CFVI in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from CFVI’s stockholders how to spot trends in stocks in connection with the proposed business combination is set forth in the Registration Statement. Rumble’s strategy is currently focused on continuing its explosive growth in users and user engagement, as well as building the tools that will enable future monetization of this consumption. The other big news is that the controversial content creator Andrew Tate, who had a massive following on several mainstream social media platforms, is now joining Rumble after being banned from many of those mainstream sites.
Choose to Hold RUM Stock
Additionally, buying SPAC stock at $10 presents a low risk to investors if the merger fails, because they’ll still get their money back. While it has been a tough season for both companies, DWAC has fallen more than 40% in the last month. These companies are frequently lumped in together as the two big “Trump trades,” but that doesn’t mean their utility is the same. One partnered with a platform that has demonstrated growth potential.
INTC Stock Outlook: Intel Is Steadily Becoming a Promising Chip Play
Investors are preparing to vote on whether or not to approve CF Acquisition’s merger with the YouTube competitor Rumble. Additionally, the alternative video content platform recently added the controversial content creator and former professional acciones gamestop kickboxer Andrew Tate. Founded in 2013, Rumble operates a platform where people can upload videos to share with their fans, like YouTube. Although YouTube is popular, many creators are dissatisfied with it because of its restrictive terms.
When Pete isn’t researching stocks or writing, you can find him enjoying the outdoors or working up a sweat exercising. Now that the company is planning to go public, the company is receiving even more attention. Between 5 best turnkey solution providers 2022 Rumble and Trump’s expected Social Truth, things should get interesting in the media business. The company is making headlines as the agreement closes in, which is expected to be final in the second quarter of 2022.
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Hughes Hubbard & Reed LLP and Bennett Jones LLP are acting as legal advisors to CFVI. Once again, we witness the power of a celebrity to move a stock’s price. Rumble shows its determination to go public with a reminder from its board room.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction between CFVI and Rumble. Such forward-looking statements include, but are not limited to, statements regarding the closing of the transaction and CFVI’s, Rumble’s, or their respective management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to assumptions, risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability.
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The company that CF Acquisition Corp VI is buying, Rumble, announced an acquisition of its own. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. CFVI was created to serve both donors and nonprofit organizations of the Virgin Islands that want to ensure the highest quality of life for present and future generations. Its primary goal is to build a collection of permanent funds, which will be used to enhance the educational, physical, social, cultural and environmental well-being of the children, youth, and families of the Virgin Islands. Our programs, operating cost, and much of CFVI’s community outreach are provided each year through generous donations from CFVI Angels.
Following the deal announcement, investors rushed to get their hands on CFVI stock, driving it up to nearly $20. The stock has since dropped more than 40 percent amid a selloff that has hit equities across the board. Blank check companies linked to Trump seem pretty volatile right now. Shares of Digital World were up roughly 840% but have since come down quite a bit, although they’re still up big. Recently, the company announced that federal regulators are investigating Digital World over how it communicated with Trump Media prior to announcing the deal.
NASDAQ: CFVI
Which stocks are likely to thrive in today’s challenging market? Click the link below and we’ll send you MarketBeat’s list of ten stocks that will drive in any economic environment. The risk of Rumble stock falling below the redemption price looks minimal, considering its advertising and cloud opportunities. Its huge cash infusion also reduces the risk of Rumble having to dilute its stock to raise more money soon.
Tate has become well known for his opinions on topics surrounding masculinity and comments on gender that many deem to be sexist. As part of the SPAC merger, Rumble is set to receive $400 million in cash. The amount consists of $300 million that CF Acquisition raised from its investors, and $100 million obtained through PIPE transactions. Rumble plans to invest the money to attract more creators to its platform, to expand its cloud infrastructure, and for potential acquisitions.
