AdTheorent Holding Company, Inc. Announces Withdrawal of Acquisition Proposal from Third Party and Next Steps in Cadent Transaction

Core Viewpoint - AdTheorent Holding Company has announced the withdrawal of a non-binding acquisition proposal of $3.35 per share, which was submitted during the go-shop period following a definitive merger agreement with Cadent, LLC, for$3.21 per share in cash, totaling approximately $324 million [1][2]. Group 1: Acquisition Proposal - A third party submitted a non-binding acquisition proposal to acquire AdTheorent for$3.35 per share but has since withdrawn it and does not intend to submit another proposal [1]. - The definitive merger agreement with Cadent, LLC, involves acquiring all outstanding shares of AdTheorent common stock for $3.21 per share, amounting to around$324 million [1]. Group 2: Regulatory Updates - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on May 6, 2024, which was a condition for closing the transaction with Cadent [2]. - AdTheorent plans to mail a definitive proxy statement to its stockholders for a special meeting to approve the Cadent transaction [2]. Group 3: Company Overview - AdTheorent utilizes advanced machine learning technology to deliver impactful advertising campaigns, focusing on predictive targeting and audience extension solutions [3]. - The company has received numerous awards, including "Best Buy-Side Programmatic Platform" in the 2023 Digiday Technology Awards and has been recognized as a top workplace in NYC for ten consecutive years [4].