AdTheorent Holding Co. Inc. (ADTH) revealed on Monday that it has accepted an acquisition proposal from Cadent, a wholly-owned subsidiary.
The agreed acquisition price is approximately $324 million. This cost translates to $3.21 per share, which is a 17% premium to the 60-day volume-weighted average stock price as of March 28, 2024.
Additionally, the definitive merger agreement allows a 33-day 'go shop' period, during which the company can proactively seek other proposals from potential interested parties.
The merged entity is expected to become one of the largest standalone omnichannel audience activation platforms available for advertisers and sellers. The new company's driving force will be state-of-the-art machine learning, coupled with a cohesive media and data marketplace.
The completion of this transaction is expected by the third quarter of 2024, pending standard closing conditions. AdTheorent will subsequently become a privately held company once the transaction is fully executed.
