TRMR - Tremor International stock sinks after Q2 miss

• Tremor International ( NASDAQ: TRMR ) stock dips after missing consensus mark in Q2.
• Amobee generated preliminary unaudited Contribution ex-TAC of approximately $150M, excluding the results from its Email Marketing Platform which is not part of proposed acquisition.
• Management initially expects to achieve meaningful annual run-rate operating cost synergies of approximately $50M on a combined pro forma basis post-closing and following completion of the integration.
• Expects to obtain new $150M debt facilities comprised of a secured term loan and a revolving credit facility to partially fund the acquisition and support future strategic investments and initiatives
• Transaction is expected to close in Q3 2022
• The company is expected to enhance platform scale and differentiation and expand strategic capabilities and global market share through pending $239M acquisition of Amobee, proposed $25M investment in VIDAA, and completed integration of Spearad.
• Tremor Video added 60 new logos during Q2 2022, and 135 new logos during H1 2022, across travel, CPG, and retail growth verticals.
• FY2022 Outlook: Contribution ex-TAC of approximately $290M; Adjusted EBITDA of approximately $155M.
• FY2023 Outlook : Contribution ex-TAC of approximately $500M; Adjusted EBITDA of approximately $200M.
• Stock down 22% .

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