FNKO - Alliance Entertainment to go public through deal with SPAC Adara Acquisition

Entertainment collectibles company Alliance Entertainment agreed to go public through a deal with SPAC Adara Acquisition (NYSE:ADRA) in a deal that values the combined company at $480 million. Alliance Entertainment will receive proceeds of $115 million of cash held in trust, according to a statement. The deal is expected to close in Q4 and the combined company is expected to trade on the NYSE under the symbol “AENT”. Alliance Entertainment is a distributor and wholesaler of what it says is the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectible. Alliance stocks over 485,000 unique entertainment products from Microsoft, Nintendo, Activision, Electronic Arts, Sega, Funko (FNKO), Disney and others. Upon completion of the deal and assuming no redemptions , the current owners of Alliance Entertainment will hold approximately 78% of the combined company and Adara holders will hold about 22%. ThinkEquity is serving as financial advisor to

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Alliance Entertainment to go public through deal with SPAC Adara Acquisition