RUM Group Inc. (formerly Rumble) (NASDAQ:RUM) entered into a binding warrant term sheet with an unaffiliated U.S.-based third-party cloud customer on Sunday, August 23, alongside a major commercial agreement.
Under the six-year contract, the customer will purchase access to graphics processing units (GPUs) and GPU services at the company’s Maysville, Georgia location, which is currently under development.
The commercial agreement features a total order value of approximately $13.7 billion, split evenly across three distinct tranches.
To establish binding obligations or liabilities for the third tranche, the customer must first review and approve the company’s proposed delivery date using reasonable discretion.
Both organizations will negotiate in good faith to complete a definitive warrant agreement.
