Online reports that according to official sources, Rumble (NASDAQ: RUM), a video sharing platform and cloud service provider, announced that the company has completed a US$775 million strategic investment from Tether. Regarding transaction details, as part of the transaction, Tether purchased 103,333,333 shares of Rumble Class A common stock at a price of $7.50 per share for a total amount of $775 million. The company will use $250 million of that, after deducting transaction fees, to support growth plans. As part of the transaction completion, the company has successfully completed its previously announced offer to purchase up to 70 million Class A common shares. As of the expiration date, a total of 70,061,168 shares were validly and successfully tendered and were not withdrawn. Rumble subsequently accepted a pro-rata purchase of 70 million shares, while zero-share bids were accepted in full for a total amount of $525 million (excluding fees and expenses associated with the offer). The depositary institution will immediately pay the shares accepted for purchase and return all other shares bid but not purchased.