AdTheorent Holding Company, Inc. (Nasdaq: ADTH), a leader in machine learning for advertisers, announced that a third party that previously submitted a non-binding acquisition proposal at $3.35 per share has withdrawn its offer. This proposal was made during the ‘go-shop’ period post the announcement of a definitive merger agreement with Cadent, LLC, a company under the portfolio of private equity firm Novacap, to acquire AdTheorent at $3.21 per share, approximately $324 million. With the closing of the Hart-Scott-Rodino Antitrust Improvements Act waiting period on May 6, 2024, the merger with Cadent proceeds, with AdTheorent planning to send out a definitive proxy statement soon for a special stockholder meeting on the merger. AdTheorent, known for its advanced machine learning advertising technology, will continue to operate as usual and maintain its business strategy until the merger’s completion. Investors and stakeholders are advised to stay updated with SEC filings which will contain significant merger details.

Advertising Technology, Private Equity, Media and Entertainment,United States, Canada