Northern Data Group Receives Potential Exchange Offer from Rumble Inc.

Northern Data AG has been approached by Rumble Inc. with a potential exchange offer for its shareholders. Rumble, a video-sharing platform, aims to acquire 100% of Northern Data's outstanding shares. According to the proposed terms, each Northern Data share would be exchanged for approximately 2.319 newly issued Class A Rumble shares. This would give Northern Data shareholders around 33.3% pro forma ownership in Rumble, assuming full tendering of shares.

The final exchange ratio is subject to adjustments depending on the sale of Northern Data’s Peak Mining unit. Additionally, Tether, Northern Data's majority shareholder, supports the transaction. However, the offer's fruition hinges on due diligence, negotiations, and the approval of Rumble's Board of Directors. The timing for launching the offer remains uncertain and depends on forthcoming negotiations.