The documents filed by CFVI with the SEC also may be obtained free of charge upon written request to CF Acquisition Corp. VI, 110 East 59th Street, New York, NY or via email at [email protected]. Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. To see all exchange delays and terms of use, please see disclaimer. You will have no right to complain to the Financial Ombudsman Services or to seek compensation from the Financial Services Compensation Scheme.

  1. That reminder was essentially a list of Rumble’s preferred candidates for its post-merger board of directors; not surprisingly, the video posting site’s operator is nominating founder and CEO Chris Pavlovski as chairman.
  2. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from CFVI’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.
  3. 11.5% will come from public stockholders of CFVI, 3.8% will be the PIPE investors and the CFVI sponsor, Cantor Fitzgerald, will own 2.5%.
  4. Last January, Rumble sued Google for $2bn, accusing the search giant of rigging video search results to favor YouTube.
  5. CFVI will also file other documents regarding the proposed transaction with the SEC.
  6. To Google, this is akin to forcing Coca-Cola to give up the recipe for Coke, in my opinion.

In direct competition with YouTube, Rumble shares up to 60% of its ad revenue with its artists. What else should investors know about this new company that is seeking to cash in on the current SPAC boom and send CFVI stock soaring? Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors.

The transaction will require the approval of the stockholders of each of CFVI and Rumble. The transaction is subject to other customary closing conditions and is expected to close in the second quarter of 2022. Cantor Fitzgerald acted as financial and capital markets advisor to CFVI.

General Business Overview

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. The proceeds will be used to attract new content creators to the Rumble and Locals platforms, continue to build out Rumble’s independent infrastructure, expand Rumble’s teams, begin robust marketing of the platform and services, make future acquisitions, and for other general corporate purposes. The proposed transactions will be submitted to CFVI’s stockholders for their consideration and approval at a special meeting of stockholders. After the Registration Statement has been declared effective, CFVI will mail a definitive proxy statement / prospectus and other relevant documents to its stockholders as of the record date established for voting on the proposed transactions. Additional InformationThis press release relates to a proposed transaction between Rumble and CFVI.

Rumble’s recent figures reported around 10.8 billion minutes watched, around 4,383 hours of uploaded video per day, and 39 million MAU in January, up 19% on its December numbers. The U.S. govt just unlocked an $8 trillion market to move in a new direction. CFVI is a blank check company led by Chairman and Chief Executive Officer Howard W. Lutnick and sponsored by Cantor Fitzgerald.

“This transaction allows Rumble to fund a wide range of business initiatives, including the development of our independent infrastructure while we continue to add top creators to our platforms. I am extremely excited to report that despite current market conditions, we have retained nearly all the cash in trust, with nearly zero redemptions from CFVI shareholders. This is truly a vote of confidence in our mission and platform, and I look forward to further delivering for all our constituents going forward.

The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on, top-rated podcasts, and non-profit The Motley Fool Foundation. It is interesting to see that this SPAC merger deal is finally completed and CFVI shareholders have made money from the original IPO price. Many other SPAC deals have fallen apart or are trading far below their IPO price, such as BuzzFeed (BZFD). Most readers who are familiar with this type of litigation understand that there invariably is a very lengthy period of time before an actual trial starts.

My Services

I think that RUM may trade above “fair value” partially because there are so many people hoping for the success of a free speech platform. Because it is almost impossible at this point to estimate revenue and earnings going forward, I am unable to assign a fair enterprise value for Rumble. Based on positive operations expectations and potential for a positive settlement with Google regarding the lawsuit, I rate Rumble (RUM) a buy. 3 With potential to increase up to an enterprise value of $3.15 billion if stock price targets of the combined company are satisfied following closing. Rumble’s mission is “to restore the internet to its roots by making it free and open once again.” On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article.

4 Calculated following the closing of the Transaction for any 20 out of 30 trading days during the 5-year period post-closing. Results in an aggregate valuation of up to approximately $3.15 billion if the additional shares are earned in full. and Digitonic Ltd are not a broker/dealer, we are not bond yields are rising but were not at taper tantrum levels yet’ an investment advisor, we have no access to non-public information about publicly traded companies, and this is not a place for the giving or receiving of financial advice, advice concerning investment decisions or tax or legal advice. Rumble monetizes its content via ad revenue which it splits with platform users.

CFVI Stock Soars on Rumble Rogan Offer: What You Need To Know

Rumble’s mission is to restore the internet to its roots based on freedom of expression and creativity. Investors need to understand that Rumble’s income statements going forward for the immediate future will look terrible. It takes a lot of time and expenses to monetize their business model. They are getting $383 million net cash via the merger ($100 million from new PIPE financing and $300 million from the CFVI trust account) to help pay these expected high expenses needed to grow. Investors may also expect to see very negative media comments about these financial results by those who do not want Rumble to be successful. They do not have the competition, especially from a neutral/conservative leaning platform.

This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 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.

That goes really well with what you see on Locals, where creators are driving subscriptions for their loyal fans. We see that actually being the second largest pile of revenue in the future for Rumble. So, at the very top, in terms of revenue generating, we really believe that sponsorships are going to be the biggest, followed by subscriptions and tipping, and then followed by programmatic.

The Motley Fool has positions in and recommends Alphabet (A shares) and Alphabet (C shares). But the struggles of the Donald Trump-backed social media Truth Social platform, which still aims to eventually merge with SPAC Digital World Acquisition, indicate the user appetite for such a theoretically open platform might be limited. Truth Social is also positioned as a full free expression site, but among other headwinds it has been plagued by execution problems and weak user metrics. If Judge Gilliam eventually compels Google to give certain very sensitive internal data/algorithms to Rumble, I would expect some negotiated settlement that gives a much more favorable search engine results for Rumble’s internet platform.

Hughes Hubbard & Reed LLP and Bennett Jones LLP, and Ellenoff Grossman & Schole LLP acted as legal advisors to CFVI. That reminder was essentially a list of Rumble’s preferred candidates for its post-merger board of directors; not surprisingly, the video posting site’s operator is nominating founder and CEO Chris Pavlovski as chairman. Of the five other nominees, three are currently directors at pre-merger Rumble. Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer.

Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. VI  CFVI is a blank check company led by Chairman and Chief Executive Officer Howard W. Lutnick and sponsored by Cantor Fitzgerald. CFVI has earned a 2024 Gold Seal of Transparency from Candid, a nonprofit that provides the most comprehensive data and insights about the social sector.

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