Invesco BLDRS Asia 50 ADR Stock Price, News & Analysis

Adara Acquisition Corp. (NYSE American: ADRA, ADRA.U, ADRA.WS) is a publicly traded special purpose acquisition company (SPAC) focused on effecting mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or other similar business combinations. Recently, Adara has filed a definitive proxy statement with the SEC for a proposed business combination with Alliance Entertainment Holding Corporation. Alliance Entertainment is a premier distributor and wholesaler offering the world's largest in-stock selection of music, movies, video games, electronics, arcades, and collectibles. This merger, expected to deliver up to $117 million in cash held in trust, aims to make Alliance Entertainment a publicly traded company listed on the NYSE American under the ticker symbols 'AENT' and 'AENT.WS.'

Adara, led by CEO Thomas Finke and its board of directors, including Frank Quintero, Dylan Glenn, and Beatriz Acevedo-Greiff, recommends that shareholders vote 'FOR' all proposals at the upcoming Extraordinary General Meeting. The business combination is poised to enhance Alliance's ability to provide a vast array of services to resellers and retailers worldwide. With more than thirty-five years of distribution experience, Alliance serves customers of every size, providing an efficient processing and essential seller tools that help reduce costs associated with managing multiple vendor relationships.

Recent achievements include the installation of an advanced AutoStore ASRS system at Alliance's Kentucky warehouse. This system streamlines order fulfillment with robots that travel over a surface grid to pick up totes containing the required products. Additionally, Alliance has secured partnerships, such as extending their distribution agreement with the Criterion Collection, showcasing their commitment to delivering high-quality media content.

The proposed merger, expected to close shortly after the January 18, 2023 meeting, will enhance Alliance Entertainment’s market position, foster growth, and enable further investments in automation and proprietary software. This strategic move aligns with the company’s vision of becoming a leader in the eCommerce and Omni-Channel retail space.