NEW YORK - AdTheorent Holding Company, Inc. (NASDAQ:ADTH), a machine learning company specializing in programmatic advertising, has cleared a significant regulatory obstacle in its acquisition by Cadent, LLC. The Hart-Scott-Rodino (HSR) Antitrust Improvements Act waiting period expired on Monday, paving the way for the $324 million cash transaction to proceed.
The expiration of the HSR waiting period, which concluded at 11:59 p.m. on Monday, was a necessary condition for the finalization of the acquisition. Under the terms of the agreement, Cadent will acquire AdTheorent for $3.21 per share in cash.
AdTheorent's machine learning technology and solutions are designed to deliver effective advertising campaigns for marketers. The company's platform utilizes predictive targeting, geo-intelligence, and in-house creative capabilities to identify potential consumers and optimize advertising experiences. Headquartered in New York, AdTheorent has received several accolades for its technology and workplace culture, including being named a top place to work in NYC for ten consecutive years.
The company has also filed a Preliminary Proxy Statement on April 30, 2024, in connection with the proposed merger. The Definitive Proxy Statement, which will provide detailed information about the transaction, will be sent to stockholders once it is available. Stockholders are encouraged to read these documents carefully for more information about the proposed merger.
The proposed merger is subject to approval by AdTheorent stockholders and other customary closing conditions. The company has advised that forward-looking statements related to the merger's completion and timing involve risks and uncertainties and that actual results may differ materially.
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