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Rumble SPAC CFVI says S-4 filing declared effective by SEC, vote set for Sept 15

what is cfvi

The second problem is the merger terms are terrible for CFVI shareholders that could result in future massive dilution. Because of these two issues I rate CFVI a buy instead of a strong buy. While I also own DWAC common shares and warrants, CFVI has less downside risk of a failed merger because CFVI is trading less than two points above the redemption price and DWAC is trading well above the redemption price. I might sell CFVI before the redemption deadline if I think there are any new serious issues with Rumble that might cause the price to drop below the redemption price after shareholders approve the merger. The terms of the CFVI and Rumble merger agreement are indicative of why the SEC is cracking down on SPAC deals.

Jaci and Jerry Silverberg Trumpet Award – $2,500 scholarship for a student entering or enrolled in an accredited music program at a college or university. Applicants are not required to play the trumpet but must be able to document accomplishments in the field of music. Heavy Materials Scholarship – Up to 20 scholarships of $2,500 each for undergraduate students.

Real Impact Corporation Scholarship – Two scholarships of $2,500 each awarded to a graduating high school senior or current college student pursuing an undergraduate degree in business. The foundation also offers scholarships specifically for students facing significant financial need, those pursuing degrees in hospitality and culinary arts, and first-generation scholars, among others. CFVI and Rumble and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from CFVI’s stockholders in connection with the proposed transactions. CFVI’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of CFVI in the Registration Statement.

Financial Services & Investing Overview

In my opinion, this is prima facie evidence why SPAC deals need much stricter regulation of the merger terms. Some may assert that these terms also encourage management to more aggressively try to increase share prices. As part of the SPAC merger, Rumble is set to receive $400 million in cash. The amount consists of $300 million that CF Acquisition raised from its investors, and $100 million obtained through PIPE transactions. Rumble plans to invest the money to attract more creators to its platform, to expand its cloud infrastructure, and for potential acquisitions.

All told, regardless of today’s performance, DWAC stock is still one to avoid. As InvestorPlace contributor Faizan Farooque notes, Rumble is simply “more of a viable social media platform” than Truth Social. While the platform does have a huge number of users, I think the jury is also still out on the sustainability of these alternative social media platforms, and the valuation is still high, so I will personally be avoiding the stock for now. NSL Graduate Studies Fund Scholarship – An award of $2,500 to a student pursuing a graduate degree in the humanities, social sciences or the fine arts. David O’Connell Accounting Scholarship – $2,500 scholarship awarded to a student pursuing a degree in accounting. In the run-up to a crucial shareholder vote, special purpose acquisition company (SPAC) CF Acquisition Corp.

Last year, CFVI disbursed a total of $178,455 in scholarships to 63 students, continuing its legacy of support that has resulted in more than $3.8 million in awards since its inaugural scholarships in 1996. Walsh is remembered for her dedication to social work and her deep connections within the community, leaving a lasting legacy that has supported Virgin Islands students for decades. Next Generation Student Scholarship – Up to four $2,500 scholarships to undergraduate students who are first-generation scholars. Falek Family Scholarship – One scholarship of $2,500 awarded to a graduating high school senior or current college student. Estelle Parrott Award – $1,000 awarded to an undergraduate student that is in their 2nd, 3rd or 4th year of studies and holds a GPA of 3.0 or higher, at the University of the Virgin Islands.

what is cfvi

Although YouTube is popular, many creators are dissatisfied with it because of its restrictive terms. Rumble has positioned itself as an alternative to YouTube, emphasizing free speech. Ahead of the Rumble merger, investors want to know if they should buy CFVI stock at or below $10.

As of this writing, CFVI stock has risen by almost 17% within the first two hours of trading today. News of the Rumble SPAC merger broke yesterday after close of markets. cryptocurrency broker canada When trading began today, CFVI immediately shot up by almost 44%. Although its come down a bit since then, the stock seems to be on its way to rising further.

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Still, the blank-check partner of TMTG has seen a difficult season. Although DWAC is currently up 10% for the day, its surge this morning shouldn’t be taken as a cause for celebration. Shares of DWAC soared from about $10 per share to more than $94 after DWAC announced its plan to merge with Truth Social.

When the deal is closed, Chris Pavlovski, who founded the company and is its chief executive officer, will retain voting control. 4 Calculated following the closing of the Transaction for td ameritrade forex review any 20 out of 30 trading days during the 5-year period post-closing. Results in an aggregate valuation of up to approximately $3.15 billion if the additional shares are earned in full.

  1. Lana Vento Scholarship – Up to three $5,000 scholarships available to undergraduate or graduate students, preferably students interested in marine and environmental sciences and/or first-generation scholars.
  2. We are proud to have earned the Charity Navigator 4-Star Rating for demonstrating strong financial health and commitment to accountability and transparency.
  3. The business combination is expected to close shortly after the special meetings of the stockholders of CFVI and Rumble.
  4. An award of $2,500 for a graduating high school senior studying in the fields of secretarial, paralegal, court reporting or some such form of post-high school training.
  5. Applications for undergraduate and graduate scholarships must be submitted through CFVI’s online portal at /ScholarshipPortal.
  6. According to a 2020 poll from Pew Research Center, most Americans believe that social media companies censor political views.

Upon the closing of the transaction, Chris Pavlovski, the Founder and Chief Executive Officer of Rumble, will retain voting control to facilitate execution of Rumble’s neutral mission on alpari review behalf of all stakeholders. We are proud to have earned the Charity Navigator 4-Star Rating for demonstrating strong financial health and commitment to accountability and transparency.

How to Play CFVI in the Short-Term

All students are encouraged to apply regardless of academic or financial status. CFVI does not and shall not discriminate on the basis of color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, sexual orientation or military status in any of its activities or operations. We are committed to providing an inclusive and welcoming environment for all. If interested in donating to an existing scholarship fund or establishing a new scholarship fund, contact CFVI at Walsh, a 20-year resident of Frenchman’s Hills, St. Thomas, was a social worker for the City of New York where her supervisor was Hulita Blyden, a native Virgin Islander.

So, instead of EPS increasing 100% they would only increase about 40%. Assuming there are no redemptions after the merger and the new stock trades at about $10 per share, there will be a total of 262,206,418 shares outstanding. If an investor determines that actually a fair value for the equity capitalization should be $7.0 billion, that would imply a share price of $26.70 using 262,206,418 shares.

CFVI Offering Free Mental Health Resource to Boost Children’s Learning

Additionally, buying SPAC stock at $10 presents a low risk to investors if the merger fails, because they’ll still get their money back. Universal Business Supplies Scholarship – $2,500 award to one student that has applied to or is currently enrolled in a college or university with significant financial need and a GPA of 2.5 or higher. Theodore E. Sharp Scholar Award – Up to two scholarships of $5,000 each to students with outstanding records in community service that have applied to or are continuing in an accredited college or university. Milan and Aliki Glumidge Scholarship – $2,500 to a student pursuing a degree in hospitality and/or culinary arts.

VI  CFVI is a blank check company led by Chairman and Chief Executive Officer Howard W. Lutnick and sponsored by Cantor Fitzgerald. AdvisorsCantor Fitzgerald & Co. is acting as financial and capital markets advisor to CFVI. Hughes Hubbard & Reed LLP and Bennett Jones LLP are acting as legal advisors to CFVI.

Dish Fund Scholarship – $2,500 scholarship awarded to an undergraduate student whose field of interest is in early childhood, child and family studies or culinary arts, with strong financial need and who was born on St. Thomas. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. For more details on the scholarship program and to access the FAQ, visit cfvi.net/scholarships. The CFVI also welcomes inquiries from those interested in donating to an existing scholarship fund or establishing a new one, emphasizing the community’s role in supporting the educational aspirations of Virgin Islands students. Additional scholarship resources not affiliated with CFVI can be found at cfvi.co/ScholarshipResourcesVI, providing a comprehensive guide for students seeking financial aid opportunities.

Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from CFVI’s stockholders in connection with the proposed business combination is set forth in the Registration Statement. Rumble’s strategy is currently focused on continuing its explosive growth in users and user engagement, as well as building the tools that will enable future monetization of this consumption. While Rumble still screens video content, it is considered much less restrictive, especially for conservatives, than other video hosting websites such as YouTube. Their business plan “is to capitalize on content creator dissatisfaction with existing large social media platforms that are perceived as being biased toward certain content or that otherwise restrict content.” Secret Harbour Scholarship – Up to four scholarships of $3,000 each for undergraduate students pursuing a degree in hospitality and/or culinary arts.