Monroe Capital announced that AdTheorent and MCAP Acquisition Corporation (NASDAQ: MACQ) have signed a definitive agreement for a business combination. This merger values AdTheorent at $775 million and targets a pro forma market capitalization of approximately $1 billion. The combined company will continue under the AdTheorent name and remain listed on NASDAQ. An oversubscribed $121.5 million PIPE supports the transaction. Approval from MCAP stockholders and regulatory bodies is required for completion, expected in Q4 2021.
AdTheorent, a programmatic digital advertising firm, has signed a definitive agreement to merge with MCAP Acquisition Corporation (NASDAQ: MACQ), valuing the transaction at approximately $775 million. The merger aims to enhance AdTheorent's growth strategy, leveraging its machine learning platform in the privacy-forward digital ad market. This strategic move is expected to provide at least $100 million in net proceeds, fueling future M&A and international expansion plans. The merger is anticipated to close in Q4 2021, pending shareholder approvals.