Adara Acquisition today in an 8-K filed an updated investor presentation on its proposed merger with Alliance Entertainment.
The SPAC said it revised the presentation to remove projections, which have been withdrawn by Alliance and should no longer be relied upon or considered by investors.
If approved, the combined business is expected to have a pro forma equity value of approximately $480 million and $109 million in gross cash proceeds after closing. The companies are targeting a fourth-quarter closing, with the merged enterprise listing on the NYSE American under the symbol AENT.
Alliance describes itself as a distributor and wholesaler of “the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles.” Read more.
