Stablecoin issuer Tether exercises pre-funded warrants to acquire 4.6 million Rumble Class A shares.
Stablecoin operator Tether Global Investments Fund exercised pre-funded warrants to acquire 4.6 million Rumble Inc. (NASDAQ:RUM) Class A shares for $36.2 million. The transaction, executed at a weighted average price of $7.88 per share, was disclosed in an SEC Form 4 filing.
The purchase increases Tether’s indirect Class A holdings to 141.9 million shares, with direct ownership unchanged at zero. The fund retains 154.4 million pre-funded warrants, allowing further equity exposure subject to voting and capital limits.
Post-transaction, Tether’s indirect stake in the digital media platform stands at approximately 141.9 million shares, with no direct ownership reported. The acquisition follows ongoing sector competition in video sharing and livestreaming.