GlobeNewswire·Sep 10, 2026, 4:42 PM ET

RUM Group to Acquire Additional Shares of Northern Data to Reach Approx. 98% Ownership

RUM Group Inc. expects to increase its ownership in Northern Data AG from 85.2% to approximately 98% by acquiring additional outstanding shares.
The company delivered notice to Northern Data to commence squeeze-out proceedings under the German Stock Corporation Act to acquire the remaining 2% of shares for 100% ownership.
RUM Group is acquiring the additional shares from Tether Investments, S.A. de C.V. under an existing Transaction Support Agreement.
Tether agreed to acquire 8,256,155 Northern Data shares on September 2, 2026, with an exchange for pre-funded warrants expected around September 30, 2026.
The exchange ratio under the agreement is 2.0281 shares of RUM Class A common stock (or pre-funded warrants) for each Northern Data share delivered.
The squeeze-out price may differ from market prices or prices paid in bilateral trades with other shareholders.
This announcement follows a previously announced $13.7 billion GPU services agreement with an unaffiliated U.S. cloud customer for the Maysville, GA site.
RUM Group operates as an AI infrastructure & video company through its Quake AI compute business & Rumble video platform.
The press release includes forward-looking statements regarding the acquisition & subsequent squeeze-out, accompanied by standard risk factor disclosures.