PRESS RELEASE
June 26, 2026
Read time: 3 min
Global law firm McDermott Will & Schulte represented Tether, issuer of the world’s most widely used stablecoin, as majority shareholder of Northern Data AG (Northern Data), a leading provider of AI and high-performance computing (HPC) infrastructure, in connection with RUM Group Inc.’s (NASDAQ: RUM) acquisition of a controlling interest in Northern Data.
Pursuant to a tender offer supported by Tether and other significant shareholders, RUM Group Inc. (f/k/a Rumble Inc.) acquired approximately 85.2% of Northern Data’s outstanding shares in exchange for RUM Group Inc. shares worth approximately $1.3 billion. In connection with the transaction, Tether also refinanced its existing loan to Norther Data with outstanding balance of approximately $736 million by exchanging the loan for RUM Group Inc. shares and a new loan with RUM Group Inc.
The cross-border McDermott team was led by Dan Woodard with invaluable assistance from Greg Berson, Yuxin Jin, Caroline Samuelson, Marisa Montoya, Alexander Klein, Christoph Coenen, Uwe Goetker, Ludwig Zesch, Darius Mosleh, Marcus Fischer, William Gibson-Dancer, Christian Driessen-Rolf, Steffen Woitz, Laura Stammwitz, Max Küttner, Carolin Schumacher, Timothy (Ty) Carson, Ellie Atkins, Claus Färber, Mark Bilut, Greg Weigand, Florian Schiefer, Johannes Honzen, Joseph Anderson, Nikita Panchal, and Athanasia Eleftheriadou.
Read Rumble’s press release here.
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