RUM Group Inc. (Nasdaq: RUM) announced on September 10, 2026, that it expects to acquire additional outstanding shares of Northern Data AG to increase its ownership stake from 85.2% to approximately 98%. The company expects the transaction to settle on or about September 30, 2026.
The additional shares are being acquired from Tether Investments, S.A. de C.V. under a Transaction Support Agreement dated November 10, 2025. Under the terms of the agreement, Tether agreed to exchange Northern Data shares for shares of RUM Class A common stock at an Offer Ratio of 2.0281 shares of RUM Class A common stock for each Northern Data share delivered.
RUM Group also delivered notice to Northern Data that it intends to commence squeeze-out proceedings under the German Stock Corporation Act. These proceedings are intended to acquire the remaining approximately 2% of Northern Data's outstanding shares, which would bring RUM Group's total ownership to 100%.
The company noted that the price to be paid in the squeeze-out may differ from the market price of Northern Data shares and prices paid by other shareholders in bilateral trades.
