Overview
McDermott Will & Emery represented Tether in a $775 million strategic private investment in public equity (PIPE) investment and related tender offer in video-sharing platform and cloud services provider Rumble (NASDAQ:RUM). Tether is the largest company in the digital assets industry and the most widely used dollar stablecoin across the world with more than 400 million users.
As part of the transaction, Tether purchased 103,333,333 shares of Rumble Class A Common Stock at a price per share of $7.50, totaling $775 million in gross proceeds to Rumble.
The McDermott team was led by Dan Woodard and included David Lipkin, Caroline Samuelson, Heidi Steele, Eric Orsic, Tom Conaghan, Richard Bass, Scott Regan, Elai Katz, Ty Carson, Anthony Ferrara, and Raymond Paretzky.
Read Rumble’s press release here.
About McDermott
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
