AdTheorent to List on Nasdaq Through Combination With Monroe Capital-Sponsored MCAP
July 27 2021 - 8:23AM
Dow Jones News
By Robb M. Stewart
A special purpose acquisition vehicle backed by asset manager
Monroe Capital LLC will take AdTheorent Inc. public through a
combination that pegs a $775 million enterprise value on the
advertising-technology company.
MCAP Acquisition Corp. and AdTheorent after their merger will be
named AdTheorent Inc., which is expected to remain listed on
Nasdaq, with a pro forma market capitalization of about $1 billion,
Monroe said Tuesday.
The deal includes a fully committed investment of $121.5 million
from investors including Hana Financial Group Inc., Monroe Capital
and Palantir Technologies Inc.
MCAP's and AdTheorent's board have each approved the
transaction, which is expected to close in the final quarter of
2021.
AdTheorent uses advanced machine learning technology and
solutions to deliver advertising campaigns for marketers. MCAP, the
third SPAC sponsored by Monroe, raised $316 million in March.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
July 27, 2021 08:08 ET (12:08 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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