Rumble CFO Brandon Alexandroff sells shares worth $66.5 million

Brandon Alexandroff, Chief Financial Officer of Rumble Inc. (NASDAQ:RUM), has reported significant stock transactions in a recent SEC filing. On February 7, Alexandroff sold a total of 8,872,259 shares of Rumble’s Class A Common Stock at a price of $7.50 per share, amounting to approximately $66.5 million. The transactions were part of Rumble’s self-tender offer that closed on the same day. The stock, currently trading at $11.17, has shown significant volatility, with a 94% gain over the past six months despite a recent 15% weekly decline.

Additionally, Alexandroff executed stock options, acquiring 6,828,420 shares of Class A Common Stock at an exercise price of $0.03 per share, totaling approximately $204,852. Following these transactions, Alexandroff holds 64,210 shares directly. According to InvestingPro, Rumble maintains strong liquidity with a current ratio of 3.94, though analysts don’t expect profitability this year. For deeper insights into Rumble’s financial health and 12 additional ProTips, explore the comprehensive Pro Research Report.

These moves are part of a broader series of transactions involving the exchange and cancellation of shares, as detailed in the company’s Business Combination Agreement. The company, with a market capitalization of $2.62 billion, continues to show strong price momentum despite challenging profit margins.

In other recent news, Rumble Inc. has been making significant moves on multiple fronts. The video platform and cloud services provider recently announced the launch of an official White House channel, a development that could considerably increase its visibility and user base. In another development, Rumble disclosed the departure of its General Counsel and Corporate Secretary, Michael Ellis, who is set to take up a new role in government service. The company has yet to announce a successor for this position.

Rumble has also seen changes in its board, with the appointment of Katie Biber as a new independent director, following the resignation of Ethan Fallang. Ms. Biber will serve on the Audit Committee and the Nominating and Corporate Governance Committee. In addition, Rumble reported a new all-time high for average concurrent creator livestreams, surpassing the previous record set earlier.

In a major financial move, Rumble announced a $775 million strategic investment from Tether, a leading company in the digital assets industry. Details of how the funds will be used have not been disclosed, but the investment could potentially enable Rumble to expand its operations or invest in new technologies. These recent developments indicate a period of significant activity and change for Rumble Inc.

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