RUM Group Inc. (RUM) shares advanced 10% on Monday after the company announced a six-year, $13.7 billion GPU services agreement with an unaffiliated U.S.-based cloud customer.
The deal, dated August 23, 2026, covers GPU services at RUM’s Maysville, Georgia site, currently under development. The total order value is distributed evenly across three tranches over the agreement’s term. The third tranche remains contingent on customer approval of the proposed delivery date.
As part of the arrangement, RUM entered a binding term sheet to issue the customer a warrant for up to 50,808,408 shares of Class A common stock at an exercise price of $0.01 per share. The initial 50% of warrant shares will vest in three equal tranches of 16.67% each, aligned with the three purchase tranches. The remaining 50% may vest across five expansion tranches of 10% each if additional commercial agreements are finalized before the original deal expires.
Full vesting requires the customer to purchase GPU services exceeding two-and-a-half times the original three-tranche total. The warrant will be exercisable for 10 years from issuance and limited to cash payment, with no net settlement or cashless exercise permitted.
Transfer restrictions apply: the warrant may only be transferred to controlled affiliates of the customer without RUM’s consent, and prohibited transfers include those to known competitors, activist investors, or non-passive investors holding at least 10% of outstanding Class A common stock.
