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Media distributor Alliance Entertainment Holding files for a $6 million Nasdaq uplisting

April 12, 2023

Alliance Entertainment Holding, a wholesaler and distributor of entertainment products, filed on Wednesday with the SEC to raise up to $6 million in an initial public offering.

Alliance Entertainment went public in February 2023 through a merger with NYSE American-listed SPAC Adara Acquisition, and upon the closing of the business combination, the company was delisted from the NYSE American. Alliance now trades on the OTC under the symbol "AENT" (RC SPAC profile ticker: AENT.XX).

Alliance states that it is a leading global wholesaler, direct-to-consumer distributor, and e-commerce provider for the entertainment industry. The company acts as a gateway between branded manufacturers of entertainment content, such as Universal Pictures and Walt Disney Studios, and retailers in the US and internationally, including Walmart, Amazon, and Best Buy, among others. The company currently sells the products that it is allowed to export in more than 100 countries, with an inventory of more than 425,000 SKUs consisting of vinyl records, video games, CDs, DVDs, Blu-Rays, toys, and collectibles.

The Plantation, FL-based company was founded in 1990 and booked $1.3 billion in sales for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol AENT. ThinkEquity is the sole bookrunner on the deal. No pricing terms were disclosed.