Adara Acquisition Corp. (ADRA.U) Prices $100M IPO

SPAC pricing

Adara Acquisition Corp. (ADRA.U) Prices $100M IPO

Adara Acquisition Corp. announced the pricing of its $100 million IPO this evening and its units are expected to begin trading on the NYSE under the symbol “ADRA.U” Tuesday, February 9.

The new company aims to combine with a high-performing consumer products company valued between $150 million and $500 million. Adara is led by Chairman Thomas Finke, CEO Martin A. Sumichrast and CFO Paul G. Porter.

Total SPAC deal count for 2021 year-to-date is now 119 with $35.6 billion in gross proceeds raised. This offering is expected to close on Thursday, February 11.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as sole book-running manager. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with Loeb & Loeb LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.