04:41 PM EST, 02/07/2025 (MT Newswires) -- Rumble (RUM) said Friday it has closed an investment of $775 million from Tether, with the company buying about 103.3 million Rumble Class A shares at $7.50 apiece.

Rumble said it will use $250 million of the proceeds to support its growth initiatives.

Rumble also said that, as part of the closing of the deal, it has completed a tender offer to buy up to 70 million of its Class A shares. The tender offer expired on Feb. 4.