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Adara Acquisition Corp. (NYSE American: ADRA.U) announced that from March 24, 2021, holders of its 11,500,000 IPO units can trade shares of Class A common stock and warrants separately on NYSE American under the symbols 'ADRA' and 'ADRA WS'. No fractional warrants will be issued. Units not separated will continue trading under 'ADRA.U'. The registration statement was effective as of February 8, 2021. The Company aims to pursue mergers or acquisitions, particularly in the consumer products sector. ThinkEquity acted as the sole book-running manager for the offering.
Adara Acquisition Corp. has priced its initial public offering (IPO) at $10.00 per unit, totaling 10,000,000 units listed as "ADRA.U" on NYSE American starting February 9, 2021. Each unit includes one share of Class A common stock and half a redeemable warrant, allowing the purchase of additional shares at $11.50. The company aims to pursue business combinations primarily in the consumer products sector. Its sponsors include cbdMD, Inc. and Blystone & Donaldson, LLC. ThinkEquity is the book-running manager for the offering, with an option for underwriters to purchase an additional 1,500,000 units.