Adara Acquisition Corp. Announces Separate Trading of its Class A Common Stock and Warrants, Commencing March 24, 2021
March 19 2021 - 9:00AM
Business Wire
Adara Acquisition Corp. (NYSE American: ADRA.U) (the “Company”)
announced today that, commencing March 24, 2021, holders of the
11,500,000 units sold in the Company’s initial public offering may
elect to separately trade shares of the Company’s Class A common
stock and warrants included in the units. The shares of Class A
common stock and warrants that are separated will trade on NYSE
American LLC (“NYSE American”) under the symbols “ADRA” and “ADRA
WS”, respectively. No fractional warrants will be issued upon
separation of the units and only whole warrants will trade. Those
units not separated will continue to trade on NYSE American under
the symbol “ADRA.U.” Holders of units will need to have their
brokers contact Continental Stock Transfer & Trust Company, the
Company’s transfer agent, in order to separate the units into
shares of Class A common stock and warrants.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission (“SEC”) and was
declared effective on February 8, 2021. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of the units and the underlying
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The Company’s sponsor, Adara Sponsor LLC, is led by cbdMD, Inc.
(NYSE American: YCBD, YCBDpA) and Blystone & Donaldson,
LLC.
The Company is led by its Chairman, Thomas Finke (former
Chairman and CEO of Barings LLC), its CEO and director, Martin A.
Sumichrast (Co-CEO of cbdMD, Inc.), and its director, W. Tom
Donaldson (founder of Blystone & Donaldson). In addition to
Messrs. Finke, Sumichrast and Donaldson, the Company’s Board of
Directors also includes Frank Quintero, Dylan Glenn and Beatriz
Acevedo-Greiff.
The Company was formed for the purpose of effecting a merger,
capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more
businesses. While the Company may pursue an initial business
combination target in any industry, it currently intends to
concentrate its search for a target business operating in the
consumer products and related industries.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager.
The offering is being made only by means of a prospectus, copies
of which may be obtained by contacting ThinkEquity, a division of
Fordham Financial Management, Inc., 17 State Street, 22nd Floor,
New York, New York 10004, by telephone at (877) 436-3673 or by
email at prospectus@think-equity.com.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute
“forward-looking statements.” Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company’s registration statement and final
prospectus for the initial public offering filed with the SEC.
Copies are available on the SEC’s website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210319005278/en/
cbdMD, Inc. John Weston Director of Investor Relations
John.Weston@cbdMD.com (704) 249-9515
cbdMD (AMEX:YCBD)
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