Marchex closes acquisition of Archenia for $10M in convertible notes plus earnout shares

MARCHEX INC

Acquired 100% of Archenia, a performance-based marketing tech company, for $10M in 6% convertible notes due in 3 tranches over 24 months.
Notes convertible into Marchex Class B common at $1.80/share; potential earnout of up to 4M shares based on revenue/EBITDA targets.
Stockholders approved the deal with ~99.9% support under both simple majority and majority-of-minority votes.
Archenia uses AI and natural-language analytics to deliver high-intent consumer interactions to advertisers.

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