Alliance Entertainment Holding Corporation, 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.
The Company expects to use the net proceeds from this offering for working capital and general corporate purposes.
ThinkEquity is acting as sole book-running manager for the offering.
Alliance 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.
A 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.
About Alliance Entertainment
Alliance Entertainment is a wholesale distributor of music, consumer electronics and movies, including home entertainment video and audio software, SKUs, compact discs, vinyl LP records, video games, Blu-rays, and DVDs, and hardware and related accessories like toys and collectibles. Headquartered in Sunrise, Florida, it provides services to retailers and resellers, serving huge customers worldwide. Its processing and seller tools reduce administrative complications and costs with multiple vendors, providing a single automated channel of retailers, more product selection and goal fulfillment. In addition, it offers services for eCommerce fulfillment (CDF), vendor-managed inventory systems, traditional retail distribution, category captain analysis and processes and 3PL functions.