CF Acquisition Corp. VI (Nasdaq: CFVI), a special purpose acquisition company sponsored by Cantor Fitzgerald, and Rumble Inc. (“Rumble”), the neutral video platform, announced today that CFVI has filed with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (the “Registration Statement”) in connection with the proposed business combination with Rumble.
CFVI and Rumble announced on December 1, 2021, that they entered into a definitive business combination agreement. 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 transaction has been unanimously approved by the board of directors of CFVI, as well as the board of directors of Rumble, and is expected to close during the second quarter of 2022, subject to the Registration Statement being declared effective by the SEC, approval by CFVI and Rumble shareholders, and other customary closing conditions. 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.
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