Overview
- Rumble will offer 2.0281 Class A shares for each Northern Data share in a voluntary exchange, implying a valuation of about €663 million based on Friday’s close.
- Northern Data investors may receive up to $200 million in cash tied to the sale price of the Corpus Christi bitcoin‑mining site.
- Rumble says it has secured roughly 72% of Northern Data from major holders and intends to delist the Frankfurt-based company after completion.
- After closing, Northern Data shareholders are expected to own about 30.4% of Rumble, with Tether remaining a key investor as part of its €610 million loan is converted to equity and the remainder is assumed by Rumble.
- The tie-up adds a global data‑center footprint and about 22,400 Nvidia GPUs to support Rumble’s planned AI‑cloud services, after earlier summer discussions had signaled a richer exchange ratio than the one announced.