Adara Acquisition scheduled a Jan. 18 meeting for shareholders to vote on the proposed merger with Alliance Entertainment, a distributor and wholesaler of music, movies, video games, electronics, arcades, and collectibles. A definitive proxy outlining the deal was filed Monday with the SEC.
If approved, at closing the combined entity’s shares and warrants are expected to list on the New York Stock Exchange American under ticker symbols AENT and “AENT.WS.
As announced in June, the merged enterprise would have a proforma equity value of approximately $480 million. Alliance is expected to have $109 million in gross cash proceeds after closing. Read more.
