AdTheorent Holding Company, Inc. (AdTheorent) announced that the third party bidding to acquire the company for $3.35 per share has rescinded its proposal and will not submit another bid. This withdrawal ensures the continuance of AdTheorent’s previously announced definitive merger agreement with Cadent, LLC, a subsidiary of private equity firm Novacap. The agreement entails Cadent acquiring all outstanding shares of AdTheorent common stock for $3.21 per share in cash, totaling approximately $324 million. The expiration of the Hart-Scott-Rodino Antitrust Improvements Act of 1976 waiting period on May 6, 2024, cleared another hurdle towards closing the transaction. Both companies remain bound to the merger agreement, and AdTheorent will send proxy statements to its stockholders for approval. This merger is poised to enhance AdTheorent’s capabilities in programmatic advertising, continuing the company’s streak of technology and workplace awards. Investors and stockholders are advised to review all relevant documents filed with the SEC concerning the proposed merger.

Programmatic Advertising, Private Equity, Media and Entertainment,United States, North America