What was the cause?
In the lead-up to the crucial vote of shareholders Special for acquisitions with a specific purpose (SPAC) CF Acquisition Corp. VI ( CFVI 12.29 percent) traded up sharply on Wednesday. The stock climbed by more than 7% during the day, buoyed by report that it’s putting its ducks in order at the organizational level.
So , what’s next?
In the hours after market hours the following Tuesday Rumble was the name of the business who intends to go public after joining into CF Acquisition, pushed out an email to its shareholders.
This was essentially an outline of Rumble’s top nominees for the post-merger board directors. Not surprisingly, the operator of the site has nominated its founder and CEO Chris Pavlovski as chairman. Of the other five candidates, three are directors at the time of the merger Rumble.
Though the latest announcement from the company was not a call to action but an announcement, it’s giving the perception of the fact that Rumble will pursue the merger to make it an actual publicly traded company.
If it’s an instant success is a huge one, but. The company claims to be an open and free media sharing site that doesn’t limit the content it offers in any manner. This is in contrast to other websites like Alphabet‘s YouTube which has been accused by some of limiting content.
But the challenges with The Donald the Trump-bashing platform for social media Truth Social platform, which is still looking to merge into SPAC Digital World Acquisition which is a competitor, suggests that the user interest in an open platform could be very limited. Truth Social is also positioned as a fully free-expression site, however amid other challenges, it’s hit by issues with execution as well as poor performance metrics for users.
CF Acquisition is slated to organize an exclusive shareholder meeting to vote on its “business merger” of itself and Rumble on the 15th of September. 15 on the 15th of September at 10:00 a.m. ET.
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