Adtheorent holding company, inc. announces withdrawal of acquisition proposal from third party and next steps in cadent transaction

New york, may 16, 2024 (globe newswire) -- adtheorent holding company, inc. (“adtheorent” or the “company”) (nasdaq: adth), a machine learning pioneer delivering measurable value for programmatic advertisers, today announced that the third party that had submitted a non-binding acquisition proposal to acquire the company for $3.35 per share has withdrawn such proposal, and has informed the company that it does not intend to submit another acquisition proposal. this proposal had been submitted during the go-shop period that followed adtheorent's announcement of the execution of a definitive merger agreement (the “merger agreement”) pursuant to which cadent, llc (“cadent”), a leading provider of platform-based converged tv advertising solutions and a portfolio company of novacap, one of north america's established private equity firms, agreed to acquire all outstanding shares of adtheorent common stock for $3.21 per share in cash, or approximately $324 million.
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