ADRA - Alliance Entertainment increases credit line by $50M led by Bank of America

August, 04 2022 09:36 AM Adara Acquisition Corp. Class A

Alliance Entertainment that it will become publicly listed through a merger transaction with Adara Acquisition ( NYSE: ADRA ) announced expansion for their line of credit to $225M from $175M.
Merger transaction is expected to close during Q4 2022 ; combined company to trade on the NYSE under the ticker symbol “AENT"
The line of credit is used to finance operations supporting accounts receivable and inventory purchases.
The asset-based loan is led by Bank of America with syndication partners including Fifth Third Bank and Bank of Montreal. Alliance has been with the trio of banks since February of 2017.

For further details see:

Company Name:	Adara Acquisition Corp. Class A
Stock Symbol:	ADRA
Market:	NASDAQ