RUM Group Inc.'s activist reporting group rose to 50.3% ownership, representing 261,485,350 Class A Common Stock shares, including shares issuable under pre-funded warrants. The position matters to investors because the group reports voting and dispositive power over the stake and identifies a Top-Up Exchange as its stated purpose.

Key Highlights

  • The Top-Up Exchange requires issuance of warrants exercisable for 16,744,307 Class A Common Stock shares.
  • Tether Global Investments Fund, Tether Investments and Giancarlo Devasini jointly report beneficial ownership of 261,485,350 Class A Common Stock shares, equal to 50.3%.
  • RUM Group Inc.’s activist position rose after Tether Investments acquired ND Shares on September 2, 2026.

The reporting group beneficially owns 261,485,350 shares of Class A Common Stock. The position rose following Tether Investments’ Acquisition of ND Shares on September 2, 2026, under a Top-Up Exchange tied to the Support Agreement.

Position Includes Shares And Warrants

The 50.3% calculation uses 276,328,597 issued and outstanding Class A Common Stock shares, 123,690,477 shares issuable upon exchange of outstanding exchangeable shares of Subsidiary 1,000,045,728 Ontario Inc. and the 119,607,981 Warrant shares, with each figure stated as of August 6, 2026. Giancarlo Devasini indirectly holds that voting and dispositive power through the Investment entities and disclaims beneficial ownership except to the extent of his pecuniary interest.

September Acquisition Triggers Exchange

Under the Support Agreement, each ND Share owned at the end of a calendar month may be exchanged for 2.0281 new Class A Common Stock shares or pre-funded warrants when the resulting ownership would exceed the Voting Limitation. The Top-Up Exchange is the stated purpose of the activist amendment.

Support Agreement Sets Next Step

RUM Group Inc. (NASDAQ: RUM)’s stated voting and dispositive power covers all 261,485,350 beneficially owned shares.