Alliance Entertainment Announces Pricing of Public Offering and Nasdaq Listing

About this update from Alliance Entertainment Holding Corporation

[{"type":"text","content":" PLANTATION, Fla.--(BUSINESS WIRE)--\nAlliance Entertainment Holding Corporation (Nasdaq: AENT) (“Alliance Entertainment”, “Company”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, today announced the pricing of a public offering of 1,335,000 shares of Alliance Entertainment’s Class A common stock at a price to the public of $3.00 per share for aggregate gross proceeds of approximately $4.0 million, prior to deducting underwriting discounts and offering expenses. The Company has granted the underwriter a 45-day option to purchase up to 200,250 additional shares of Class A common stock to cover over-allotments at the public offering price, less the underwriting discount.\n\n\nThe Company expects to use the net proceeds from this offering for working capital and general corporate purposes.\n\n\nThinkEquity is acting as sole book-running manager for the offering.\n\n\nAlliance Entertainment also announced that, concurrent with this offering, its Class A common stock and warrants have been approved for listing on the Nasdaq Capital Market. The Company’s Class A common stock and warrants will begin trading on the Nasdaq Capital Market on Friday, June 30, 2023, under the existing ticker symbols “AENT” and “AENTW”, respectively. The offering is expected to close on July 5, 2023, subject to satisfaction of customary closing conditions.\n\n\nA registration statement on Form S-1 (File No. 333-271219) relating to the securities was filed with the Securities and Exchange Commission (“SEC”) and became effective on June 29, 2023. This offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, New York 10004. The final prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.\n\n\nAbout Alliance Entertainment\n\n\nAlliance Entertainment is a premier distributor of music, movies, and consumer electronics. We offer over 425,000 unique in stock SKU’s, including over 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Complementing our vast media catalog, we also stock a full array of related accessories, toys and collectibles. With more than thirty-five y...

More updates from Alliance Entertainment Holding Corporation