The Latest SPAC News and Rumors: July 7, 2022

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News:  Alliance Entertainment acquires Think 3Fold to expand licensed toy and collectible division 

Alliance Entertainment Acquires Think 3Fold to Expand Rapidly Growing Licensed Toy and Collectible Division  

Alliance Entertainment Holding Corporation (“Alliance Entertainment”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, today announced the July 1, 2022, closing on the acquisition of Think 3Fold, a distributor of toys and collectibles.

On June 23, 2022, Alliance Entertainment announced that it will become publicly listed through a merger transaction with Adara Acquisition Corp. (NYSE: ADRA), a publicly traded special purpose acquisition company. The transaction is expected to close in the fourth quarter of 2022, at which point the combined company’s common stock is expected to trade on the NYSE American under the ticker symbol “AENT”.