AdTheorent Merging with MCAP Acquisition in $1B Deal

MCAP Acquisition

Digital advertising platform AdTheorent and MCAP Acquisition today announced a definitive business combination agreement. The business combination values AdTheorent at a $775 million enterprise value and at a pro forma market capitalization of approximately $1 billion, assuming no MCAP shareholder redemptions.

The transaction includes an oversubscribed and upsized $121.5 million PIPE anchored by institutional and strategic investors including Hana Financial Group and Monroe Capital and one or more of its affiliates, along with Palantir Technologies. The SPAC raised $316.25 million in a March IPO.

MCAP is sponsored by an affiliate of Monroe Capital.

If approved, upon closing AdTheorent is expected to trade on the Nasdaq. Read more.

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