Adara Acquisition (ADRA)

Company Profile

Adara raised $115 million in February 2021 and its securities are listed on the NYSE American under the ticker symbols “NYSE: ADRA, ADRA.U, ADRA.WS”. Adara is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Adara is led by its CEO, Thomas Finke (former Chairman and CEO of Barings LLC) and its director, W. Tom Donaldson (founder of Blystone & Donaldson). In addition to Messrs. Finke and Donaldson, Adara’s Board of Directors also include Frank Quintero, Dylan Glenn and Beatriz Acevedo-Greiff.

Company profile

Ticker

ADRA, ADRA.UN

Exchange

Incorporated

Location

Fiscal year end

Industry (SIC)

Wholesale - Durable Goods, NEC

Core & Main • Greenlane ...

SEC CIK

0001823584

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

IRS number

852373325

ADRA stock data

1M 1Y 5Y

Latest filings (excl ownership)

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425

Business combination disclosure

27 Jan 23

8-K

Submission of Matters to a Vote of Security Holders

19 Jan 23

424B3

Prospectus supplement

17 Jan 23

425

Business combination disclosure

Business combination disclosure

15 Dec 22

EFFECT

Notice of effectiveness

13 Dec 22

DEFA14A

Additional proxy soliciting materials

12 Dec 22

424B3

Prospectus supplement

12 Dec 22

CORRESP

Correspondence with SEC

8 Dec 22

Latest ownership filings

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Karpus Management, Inc.

14 Feb 22

SC 13G/A

MMCAP International Inc. SPC

4 Feb 22

SC 13G

Hudson Bay Capital Management LP

MMCAP International Inc. SPC

6 Jul 21

SC 13G

CVI Investments, Inc.

19 Feb 21

Initial statement of insider ownership

8 Feb 21

Frank Quintero

8 Feb 21

Walter Tommy Donaldson III

8 Feb 21

Financial summary

Financial statements Chart ADRA financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	29.50 k	29.50 k	29.50 k	29.50 k	29.50 k	29.50 k
Cash burn (monthly)	(no burn)	67.95 k	211.55 k	185.93 k	137.88 k	245.03 k
Cash used (since last report)	n/a	283.97 k	884.04 k	776.98 k	576.17 k	1.02 mm
Cash remaining	n/a	-254.47 k	-854.54 k	-747.48 k	-546.67 k	-994.46 k
Runway (months of cash)	n/a	-3.7	-4.0	-4.0	-4.0	-4.1

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

ADRA institutional ownership history Ownership history

5.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	2	33	-93.9%
Opened positions	1	16	-93.8%
Closed positions	32	21	+52.4%
Increased positions	0	3	EXIT
Reduced positions	0	12	EXIT

13F shares	Current	Prev Q	Change
Total value	1.44 mm	32.00 mm	-95.5%
Total shares	644.06 k	4.06 mm	-84.1%
Total puts	0.00	0.00
Total calls	0.00	12.50 k	EXIT
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
CVI Investments	500.00 k	$0.00	0.0%
SkyView Investment Advisors	144.06 k	$1.44 mm	NEW

Largest transactions	Bought/sold	Change
Mangrove Partners	-431.60 k	EXIT
MMCAP International Inc. SPC	-294.00 k	EXIT
Shaolin Capital Management	-285.99 k	EXIT
Radcliffe Capital Management	-250.00 k	EXIT
CVI	-249.20 k	EXIT
Periscope Capital	-241.81 k	EXIT
JPM JPMorgan Chase & Co.	-235.25 k	EXIT
EHP Funds	-222.83 k	EXIT
Bleichroeder	-200.00 k	EXIT
Empery Asset Management	-200.00 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.