MCAP Acquisition disclosed that its pending merger partner AdTheorent and majority equityholder, an affiliate of H.I.G. Capital, agreed to waive both the $140 million aggregate cash consideration closing condition and the $258.1 million cash-in-trust closing condition. The deal is expected to close promptly after stockholders vote on Dec. 21.
“The AdTheorent equityholders believe strongly in the future of AdTheorent and the strength of the proposed business combination, AdTheorent CEO James Lawson said in the news release. “Our balance sheet is already strong as a result of our high free cash flow characteristics and we believe waiving these two closing conditions in advance of the stockholder vote enhances the certainty of the merger closing and ensures that we will have more than sufficient primary proceeds from the transaction to take advantage of the exciting growth opportunities in front of us.”
AdTheorent is a digital advertising platform.
As announced in August, the deal valued the combined companies at $1 billion. Read more.
