- Adaptive Medias (OTCPK:ADTM +2.9%) said today it expects its Q4 revenues to exceed previous guidance and that it would update stockholders "very soon" about a buyout offer on the table.
- The company says it should reach positive adjusted EBITDA in Q4 as well. It's forecasting Q4 revenues to come in above $1.6M vs. previous guidance of $1.33M.
- "We believe the combination of Adaptive Medias and AdSupply will likely represent a compelling opportunity for both companies and their respective clients and shareholders," says CEO John Strong of AdSupply's $1.50/share offer for the company. "We expect to complete our evaluation very soon and look forward to sharing our assessment with our shareholders."
- Shares closed today at $0.35; when AdSupply's $35M offer came, it was at a then-1,000% premium.
- Previously: Adaptive Medias hires Roth to examine buyout bid (Feb. 17 2016)