Adara Acquisition Corp. to merge with Alliance Entertainment at $475M enterprise value

ALLIANCE ENTERTAINMENT HOLDING CORP

Alliance shareholders receive Adara Class A shares based on $475M valuation; earn-out up to 60M contingent shares at $20/$30/$50 targets.
Sponsor and insiders subject to 6-month lock-up; 875k to 1.375M founder shares forfeited at closing.
Closing requires stockholder approvals, HSR clearance, NYSE American listing, and trust fund release.
Registration rights agreement; resale registration statement to be filed within 30 days after closing.

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