Alliance Entertainment Completes Business Combination with Adara Acquisition Corp.
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Friday, February 10, 2023
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Alliance Entertainment Holding Corporation ("Alliance Entertainment"), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, and Adara Acquisition Corp. (“Adara”) (NYSE American: ADRA, ADRA.U, ADRA.WS), a special purpose acquisition corporation, have completed the previously announced business combination which was approved at an Extraordinary General Meeting of Adara’s shareholders on January 18, 2023.
Key Points:
- Alliance Entertainment Holding Corporation ("Alliance Entertainment"), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, and Adara Acquisition Corp. (“Adara”) (NYSE American: ADRA, ADRA.U, ADRA.WS), a special purpose acquisition corporation, have completed the previously announced business combination which was approved at an Extraordinary General Meeting of Adara’s shareholders on January 18, 2023.
- The board of Alliance Entertainment would like to thank the team at Adara and its group of investors for the successful completion of the business combination.”
Tom Finke, CEO & Chairman of Adara Acquisition Corp., commented, “We congratulate Alliance Entertainment on today’s accomplishment and look forward to their continued evolution as a leading DTC and eCommerce provider for the entertainment industry. - We look forward to collaborating with Alliance Entertainment as they strategically position the company to achieve its growth objectives.”
ThinkEquity acted as the advisor to Adara Acquisition Corp. in connection with the business combination. - Blank Rome LLP served as legal advisor to Adara Acquisition Corp. in connection with the business combination.