CF Acquisition Corp. Rallies Following $2.1 Bln Deal With Rumble

Shares of special purpose acquisition company, CF Acquisition Corp. VI (CFVI) are climbing more than 17% in the morning trade on Monday, following its agreement with video platform, Rumble Inc. in a deal valued at $2.1 billion.

The transaction, which makes Rumble public, is expected to provide about $400 million in proceeds to it, including a fully committed PIPE of $100 million at $10.00 per share and $300 million of cash held in the trust account of CFVI, the company said.

CFVI, currently at $11.49, has traded in the range of $9.63- $14.38 in the last 52 weeks.

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