3//SEC Filing
Adara Sponsor LLC 3
Accession 0001104659-21-016213
CIK 0001823584other
Filed
Feb 7, 7:00 PM ET
Accepted
Feb 8, 9:34 PM ET
Size
5.6 KB
Accession
0001104659-21-016213
Insider Transaction Report
Form 3
Adara Acquisition Corp.ADRA.U
Adara Sponsor LLC
10% Owner
Holdings
Class B Common Stock
→ Class A Common Stock (2,575,000 underlying)
Footnotes (3)
- [F1]As described in the issuer's registration statement on Form S-1 (File No. 333-250157) (the "Registration Statement") under the heading "Description of Securities--Founder Shares," the shares of Class B common stock, par value $0.0001 per share, will automatically be converted into shares of Class A common stock, par value $0.0001 per share, at the time of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein and have no expiration date.
- [F2]These shares represent Class B common stock held by Adara Sponsor LLC (the "Sponsor") acquired pursuant to a subscription agreement by and between the Sponsor and the issuer. The Class B common stock owned by the Sponsor includes up to 375,000 shares that are subject to forfeiture in the event the underwriters of the issuer's initial public offering do not exercise in full their over-allotment option as described in the issuer's Registration Statement.
- [F3]Martin A. Sumichrast is the managing member of the Sponsor and exercises voting or dispositive control over any of the securities held by the Sponsor. Mr. Sumichrast disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
Documents
Issuer
Adara Acquisition Corp.
CIK 0001823584
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001823808
Filing Metadata
- Form type
- 3
- Filed
- Feb 7, 7:00 PM ET
- Accepted
- Feb 8, 9:34 PM ET
- Size
- 5.6 KB