Entravision acquires 51% of Adsmurai for €13M; provides €7.4M loan to sellers

ENTRAVISION COMMUNICATIONS CORP

Purchase price of €13.0 million (approx. $14.2M) paid via conversion of prior loan to sellers.
Additional loan of €7,355,500 (approx. $8.1M) to affiliates of remaining 49% owners; 5% interest, 2-year term.
Options Agreement allows sellers to put 10% shares in 2024, 10% in 2025, and all remaining by mid-2027.
Entravision obtains call right to purchase all remaining Adsmurai shares between Jan and June 2027.
Adsmurai is a digital advertising technology platform company; acquisition expands Entravision's ad tech capabilities.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

ENTRAVISION COMMUNICATIONS CORP entered into Options Agreement with the Sellers (effective 2023-04-03).

Action: entry
Counterparty: the Sellers
Effective: 2023-04-03

Exact text from the filing

in connection with the Acquisition, the Company and the Sellers entered into an Options Agreement (the "Options Agreement")

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ENTRAVISION COMMUNICATIONS CORP entered into Acquisition Agreement with the selling stockholders of Adsmurai valued at €13.0 million (approximately $14.2 million as of that date) (effective 2023-04-03).

Action: entry
Agreement: asset purchase
Counterparty: the selling stockholders of Adsmurai
Value: €13.0 million (approximately $14.2 million as of that date)
Effective: 2023-04-03

Exact text from the filing

On April 3, 2023, Entravision Communications Corporation (the "Company") entered into an agreement (the "Acquisition Agreement"), among the Company and the selling stockholders of Adsmurai (the "Sellers"), whereby the Company acquired a 51% equity interest in Adsmurai, S.L. ("Adsmurai")

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ENTRAVISION COMMUNICATIONS CORP filing history →

Source: SEC EDGAR

accession 0000950170-23-012193

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