AdTheorent Holding Company, Inc. Announces Expiration of "Go-Shop" Period Contained in Previously Announced Merger Agreement and Receipt of Acquisition Proposal

Core Viewpoint - AdTheorent Holding Company is in the process of a merger with Cadent, LLC, which involves Cadent acquiring all outstanding shares of AdTheorent for $3.21 per share, totaling approximately$324 million. A competing acquisition proposal was received during the "go-shop" period, offering $3.35 per share, which may lead to further negotiations [1][2][3]. Group 1: Merger Agreement Details - The "go-shop" period for AdTheorent expired on May 4, 2024, allowing the company to seek alternative acquisition proposals [1]. - A non-binding acquisition proposal was received from a third party during the go-shop period, offering$3.35 per share, which is higher than Cadent's offer [2]. - AdTheorent's board has determined that the new proposal could potentially lead to a superior offer, allowing for further discussions with the third party while still under the existing merger agreement with Cadent [2][3]. Group 2: Company Background - AdTheorent is a pioneer in machine learning technology, providing programmatic advertising solutions that deliver measurable value to marketers [5]. - The company has received multiple awards for its technology and workplace culture, including recognition as a top place to work in NYC for ten consecutive years [6]. - AdTheorent operates a media buying platform that utilizes predictive targeting and audience extension solutions to optimize advertising campaigns [5].