Rumble Inc. (RUM) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
RUM currently has 216M outstanding shares. with significant dilution risk as 146M authorized shares could dilute existing holders by 67.7%. The company has significantly diluted shareholders by 78.68% over the past 2 years, indicating aggressive capital raising.
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| May 14, 2026 |
10-Q filing | 216.4M shares outstanding |
220M | 150M |
| Nov 10, 2025 |
8-K filing: Rumble Inc. will issue 2.0281 shares of Class A common stock for each share of Northern Data AG as part of a business combination agreement, and Tether will sell 41,887,776 ND Shares to Rumble in exchange for Rumble shares or a pre-funded warrant. |
220M | 150M |
| Nov 10, 2025 |
10-Q filing | 215.4M shares outstanding |
220M | 150M |
| Aug 11, 2025 |
10-Q filing | 215.2M shares outstanding |
220M | 150M |
| May 08, 2025 |
10-Q filing | 214.9M shares outstanding |
210M | 150M |
| Mar 26, 2025 |
S-3/A filing: Rumble Inc. is offering 103,333,333 shares of Class A common stock for resale by a selling shareholder, Tether Investments S.A. de C.V., to satisfy obligations under a registration rights agreement. |
200M | 150M |
| Mar 26, 2025 |
POS AM filing: This prospectus relates to (a) the issuance by us of up to 8,050,000 shares of our common stock upon the exercise of warrants and (b) the resale from time to time by the selling securityholders named in this prospectus of (i) up to 333,568,989 shares of Class A Common Stock and (ii) 550,000 Warrants. |
200M | 150M |
| Mar 25, 2025 |
10-K filing | 204.1M shares outstanding |
200M | 150M |
| Feb 21, 2025 |
S-3 filing: Rumble Inc. is registering the offer and sale of 103,333,333 shares of its Class A common stock to satisfy obligations pursuant to a registration rights agreement with Tether Investments S.A. de C.V. |
120M | 150M |
| Dec 23, 2024 |
8-K filing: Rumble Inc. entered into a Transaction Agreement with Tether Investments Limited, involving a strategic investment of $775 million through the issuance of 103,333,333 newly issued shares of Class A Common Stock at a price of $7.50 per share. ($775.0M proceeds) |
120M | 43M |
| Nov 12, 2024 |
10-Q filing | 118.6M shares outstanding |
120M | 43M |
| Oct 18, 2024 |
S-3 filing: Rumble Inc. is offering up to $300,000,000 aggregate dollar amount of shares of its Class A common stock, preferred stock, debt securities, warrants to purchase our Class A Common Stock, preferred stock or debt securities, subscription rights to purchase our Class A Common Stock, preferred stock or debt securities and/or units consisting of some or all of these securities. |
120M | 43M |
| Aug 12, 2024 |
10-Q filing | 118.1M shares outstanding |
120M | 43M |
| May 21, 2024 |
POS AM filing: This POS AM filing includes the offering of Class A Common Stock and Warrants by Rumble Inc. and selling holders. It details the number of shares and warrants offered, the exercise price of the warrants, and the shares outstanding as of December 31, 2023. |
280M | 43M |
| May 14, 2024 |
10-Q filing | 116.9M shares outstanding |
120M | 43M |
| Mar 27, 2024 |
10-K filing | 115.1M shares outstanding |
120M | 43M |
| Nov 13, 2023 |
10-Q filing | 112.7M shares outstanding |
110M | 43M |
| Aug 14, 2023 |
10-Q filing | 112.5M shares outstanding |
110M | 43M |
| May 15, 2023 |
10-Q filing | 111.5M shares outstanding |
110M | 43M |
| Apr 14, 2023 |
POS AM filing: This POS AM filing includes shares of Class A Common Stock offered by the company and selling holders, as well as warrants offered by selling holders, with an exercise price of $11.50 per share; it also includes 280,229,977 outstanding shares of Class A Common Stock. |
280M | 43M |
| Mar 30, 2023 |
10-K filing | 111.5M shares outstanding |
110M | 390M |
| Nov 14, 2022 |
10-Q filing | 111.5M shares outstanding |
110M | 390M |
| Nov 04, 2022 |
S-1/A filing: This S-1/A filing from Rumble Inc. includes shares of Class A Common Stock offered by the company issuable upon the exercise of warrants, shares of Class A Common Stock offered by selling holders, and warrants offered by selling holders. |
280M | 390M |
| Oct 19, 2022 |
S-1 filing: This S-1 filing includes an offering of Class A Common Stock and Warrants by the company and selling holders. It details the shares offered, exercise prices, and shares outstanding as of September 16, 2022. |
280M | 390M |
| Oct 19, 2022 |
S-1/A filing: Rumble Inc. is offering shares of Class A Common Stock issuable upon the exercise of warrants, shares of Class A Common Stock for selling holders, and warrants for selling holders. |
280M | 390M |
| Sep 22, 2022 |
8-K filing: CF VI consummated the sale and issuance of 1,875,000 shares of Class A Common Stock and 375,000 Warrants to the Sponsor for $15.0 million pursuant to a Forward Purchase Contract, and issued 8,300,000 shares of Class A Common Stock for $83,000,000 in a PIPE Investment. ($113.0M proceeds) |
30M | 43M |
| Sep 16, 2022 |
8-K filing: Rumble completed its business combination on September 16, 2022, with its Class A common stock and warrants expected to commence trading on Nasdaq under the symbols "RUM" and "RUMBW," respectively. In connection with the business combination, 30,689 shares of Class A Common Stock were redeemed. |
30M | 43M |
| Aug 15, 2022 |
10-Q filing | 30.0M shares outstanding |
30M | 43M |
| May 16, 2022 |
10-Q filing | 30.0M shares outstanding |
30M | 43M |
| Mar 24, 2022 |
10-K filing | 30.7M shares outstanding |
31M | 43M |
| Dec 02, 2021 |
8-K filing: CF Acquisition Corp. VI and Rumble Inc. entered into a Business Combination Agreement, with related issuances of common stock and exchange of options and warrants, and a PIPE investment of $85 million through the sale of Class A Common Stock. ($96.0M proceeds) |
31M | 43M |
| Nov 15, 2021 |
10-Q filing | 30.7M shares outstanding |
31M | 43M |
| Aug 12, 2021 |
10-Q filing | 30.7M shares outstanding |
31M | 43M |
| May 14, 2021 |
10-Q filing | 30.7M shares outstanding |
31M | 43M |
| Feb 24, 2021 |
8-K filing: On February 23, 2021, 1,125,000 shares of Class B common stock were forfeited by the Sponsor and cancelled by the Company because the underwriters in the IPO informed the Company that they would not exercise the over-allotment option. |
N/A | 43M |
| Feb 12, 2021 |
S-1/A filing: The filing relates to the initial public offering of units of CF Acquisition Corp. VI, each unit consisting of one share of Class A common stock and one-fourth of one redeemable warrant, and also to offer and sales of units in connection with certain market making transactions. |
N/A | 43M |
| Feb 03, 2021 |
S-1/A filing: This S-1/A filing describes a business combination and the issuance of Founder Shares, Private Placement Units, and securities in a Public Offering. |
N/A | 700K |
| Jan 29, 2021 |
S-1 filing: This S-1 filing registers shares of Class A common stock and redeemable warrants as part of units for an initial public offering. |
N/A | 43M |