At long last, Rumble (NASDAQ:RUM) has finalized its reverse merger with CF Acquisition VI. This means that CFVI stock is gone, and RUM stock is trading in its place. This is a major change, but investors shouldn’t be alarmed. In fact, they may choose to hold their share positions in Rumble.
What’s Happening With RUM Stock?
After months of waiting, investors were undoubtedly relieved when CF Acquisition VI’s shareholders finally approved the business combination with Rumble on Sept. 15. Rumble shares, under their new ticker symbol, started trading on the Nasdaq exchange on Sept. 19.
There’s no need to mourn the loss of CFVI stock, as CF Acquisition was really just a shell company. All of the attention can be placed on Rumble now, and there’s some good news on the financial front. Specifically, Rumble stands to gain roughly $400 million in gross proceeds from the reverse merger transaction.
Some Important Rumble Board Members Were Revealed
Along with the new ticker symbol, there are other changes afoot as Rumble just revealed six post-merger board of directors nominees. This is an important step as prospective and current RUM stock holders should want to learn about Rumble’s management.
It appears that some new faces will be brought on board. However, at least four names are already quite familiar at Rumble. One of them is Paul Cappuccio, who has already been a director since January 2021, according to the press release. Ryan Milnes has been a director since 2013, and Ethan Fallang has been a director since May 2021.
The other familiar face is none other than Chris Pavlovski, Rumble’s founder and CEO. If anybody knows Rumble’s operations inside and out, of course it would be Pavlovski. Besides, he “has over 20 years’ experience in the online marketing and advertising space.”
Anyone who’s considering holding RUM stock really ought to familiarize themselves with the new board nominees. The rest of the list includes Emmy-nominated producer Nancy Armstrong and asset manager Robert Arsov.
An old saying in the stock market is “know what you own.” However, when researching a company to potentially invest in, it’s also important to “know who’s running the show.”
Choose to Hold RUM Stock
Clearly, there are changes afoot and Rumble’s investors need to stay on top of this transition. You’ll want to learn about the proposed board members, while also keeping track of the transition in your account from CFVI stock to RUM stock.
As for Rumble itself, it’s still a disruptive, free-speech-focused alternative to traditional media outlets. So, some things are changing and other things are staying the same — but that shouldn’t be a problem if you’re ready to roll with Rumble.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.