HOUSTON, Oct. 31,
2023 /PRNewswire/ -- Direct Digital Holdings, Inc.
(Nasdaq: DRCT) ("Direct Digital Holdings" or the "Company"), a
leading advertising and marketing technology platform operating
through its companies Colossus Media, LLC ("Colossus SSP"), Huddled
Masses LLC ("Huddled Masses") and Orange142, LLC ("Orange142"),
today announced that it completed the redemption of its outstanding
warrants (the "Warrants") to purchase shares of the Company's Class
A Common Stock, par value $0.0001 per
share (the "Common Stock") that remained outstanding following
5:00 p.m. New York City Time on
October 30, 2023 (the "Redemption
Date"), for a cash redemption price of $0.35 per Warrant. A notice of redemption was
distributed on October 23, 2023 to
the registered holders of outstanding Warrants announcing the
redemption pursuant to the terms of the Warrant Agency Agreement,
dated as of February 15, 2022, by and
between the Company and Equiniti Trust Company, LLC (formerly known
as American Stock Transfer and Trust Company, LLC), governing the
Warrants. The redemption follows the expiration and closing of the
Company's offer to each holder of outstanding Warrants to purchase
any and all outstanding Warrants for $1.20 in cash per Warrant, without interest.
The Warrants were listed for trading on the Nasdaq Capital
Market ("Nasdaq") under the symbol "DRCTW." In connection with the
redemption, the Warrants ceased trading on Nasdaq and were
delisted, with the trading halt announced after close of market on
October 30, 2023. The Common Stock
continues to trade on Nasdaq under the symbol "DRCT."
About Direct Digital Holdings
Direct Digital Holdings
(Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled
Masses, and Orange 142, brings state-of-the-art sell- and buy-side
advertising platforms together under one umbrella company. Direct
Digital Holdings' sell-side platform, Colossus SSP, offers
advertisers of all sizes extensive reach within general market and
multicultural media properties. The Company's subsidiaries Huddled
Masses and Orange142 deliver significant ROI for middle market
advertisers by providing data-optimized programmatic solutions at
scale for businesses in sectors that range from energy to
healthcare to travel to financial services. Direct Digital
Holdings' sell- and buy-side solutions manage on average over
136,000 clients monthly, generating approximately 250 billion
impressions per month across display, CTV, in-app and other media
channels.
Contacts:
Investors:
Brett Milotte, ICR
Brett.Milotte@icrinc.com
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SOURCE Direct Digital Holdings