MCAP Acquisition filed an S-4 outlining terms of its proposed merger with AdTheorent, a digital advertising platform.
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.
Announced in July, 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.