Cadent Acquires AdTheorent for $324 Million

On April 1, 2024, a definitive merger agreement has been established between AdTheorent Holding Company, Inc. (ADTH) and Cadent LLC. The agreement involves a cash transaction estimated to be worth approximately $324 million.

As per the conditions of the merger, Cadent LLC will acquire AdTheorent Holding Company, Inc. for $3.21 per share value in cash.

The merger agreement stipulates July 30,2024 as the Outside Date (which may extend no later than September 23, 2024) for the completion of the merger.

For this transaction, AdTheorent Holding Company, Inc. was advised by Canaccord Genuity on financial matters and McDermott Will & Emery in legal aspects. Cadent LLC, on the other hand, received financial guidance from Moelis & Company and legal counsel from Baker Botts.

The stock is optionable.

In terms of valuation, Cadent LLC is paying 1.65 times sales and 77.72 times EBITDA for AdTheorent Holding Company, Inc.

For more detailed information, please refer to the Deal Metrics page here:
Deal Metrics for the acquisition of AdTheorent Holding Company, Inc. (ADTH) by Cadent LLC 

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