Video platform Rumble has filed an amended registration statement form with the US Securities and Exchange Commission (SEC) that updates the expected timing of its proposed merger with Cantor Fitzgerald-sponsored CF Acquisition Corp. VI (CFVI) to early in the third quarter of 2022.
After the business combination deal is completed, the company will be publicly listed and known as Rumble Inc. When Rumble first announced the deal, it expected to complete the merger in the second quarter of 2022.
When the deal completes, Rumble expects to raise $400 million ($100 million from private investment in public equity (PIPE) financing and $300 million in cash held in a trust account) which it will use to attract new content creators to Rumble and its community generation platform Locals, build out its independent infrastructure, expand its teams, make future acquisitions, and market the platform.
The transaction has been unanimously approved by the board of directors of both CFVI and Rumble. Rumble stockholders have also agreed to support the transaction.