Adaptive Medias, Inc.OTCPK - Limited
Thu, Apr. 14, 9:11 AM
- Adaptive Medias (OTCQB:ADTM): FY15 EPS of -$0.88
- Revenue of $4.65M (-8.5% Y/Y)
Mon, Mar. 28, 9:22 AM
- Adaptive Medias (OTCQB:ADTM) has executed a letter of intent in order to merge with ad-tech firm AdSupply, closing a process that started with a strategic partnership in January followed by a ten-bagger buyout bid.
- In the deal, Adaptive Medias will pay AdSupply $8M in cash and issue new restricted stock so that Adaptive Medias shareholders own 47% of the combined company, and AdSupply's 53%.
- By combining, AdSupply will get access to Adaptive Medias' Media Graph, while Adaptive Medias gets access to AdSupply's ad network and BlockIQ technology, which detects users running ad blockers and can defeat ad blockers to serve ads to viewers.
- Adaptive Medias has begun to seek financing for the deal, which it hopes to close in Q2.
- The combined entity expects to generate more than $30M in revenues and $2.5M in earnings in its first full year.
- The two will hold a conference call to discuss the deal at 1 p.m. ET.
Mon, Mar. 14, 6:33 PM
- Adaptive Medias (OTCQB: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)
Wed, Feb. 17, 8:11 PM
- Adaptive Medias (OTCQB:ADTM +4.1%) said today it's hired Roth Capital Partners to serve as a strategic adviser "in particular related to an unsolicited offer recently received by the company."
- Shares had skyrocketed earlier this month after the company confirmed it had a $35M acquisition proposal (a 1000% premium at the time) from privately held AdSupply.
- Roth will no doubt look over that proposal as well as take on "an effort to identify other prospective buyers or strategic partners."
- Previously: Adaptive Medias sets three-year contract with CEO Strong (Feb. 05 2016)
- Previously: Adaptive Medias jumps on buyout offer at 900% premium (Feb. 01 2016)
- Previously: Adaptive Medias receives buyout bid at 1000% premium (Jan. 29 2016)
Fri, Feb. 5, 4:08 PM
- Adaptive Medias (OTCQB:ADTM) has set a new three-year employment agreement with CEO/Chairman John Strong.
- The company will pay a base salary of $72,000 initially, increasing to $225,000 next Jan. 1.
- It's also recommending to the board that Strong receive 2.25M shares in restricted stock, two-third of which will be immediately vested.
Mon, Feb. 1, 9:49 AM
- Adaptive Medias (OTCQB:ADTM) was up 559% out of the open after confirming previous reports that it has a $35M acquisition proposal from private firm AdSupply, a possible precursor to a wave of consolidation in the ad-tech space.
- The deal comes to about $1.50/share in all cash, about a 900% premium to Friday's close.
Fri, Jan. 29, 7:03 PM
- Video ad specialist Adaptive Medias (OTCQB:ADTM -8.6%) has received an acquisition bid, Barron's reports, from private AdSupply, with whom it entered a strategic partnership last week.
- AdSupply has offered $35M -- about $1.50 a share, a ten-bagger premium over the current price of $0.144 -- in a letter to Adaptive's board.
- The company will form a committee to review the deal and Adaptive CEO John Strong says they'll do their fiduciary duty to check all options.
- AdSupply chief Justin Bunnell said companies in the ad-tech space (particularly sometime candidates Rubicon Project (NYSE:RUBI), Rocket Fuel (NASDAQ:FUEL) and Criteo (NASDAQ:CRTO)) should be ready for what might be a wave of acquisitions with stock prices lower than before and "as companies prepare for the next round of competition."
- Previously: Adaptive Medias in marketplace partnership with AdSupply (Jan. 21 2016)
Thu, Jan. 21, 2:08 PM
- Thinly traded Adaptive Medias (OTCQB:ADTM) has announced a strategic partnership with ad-tech firm AdSupply where it will add premium video content to AdSupply's marketplace.
- Privately held AdSupply has a digital ad marketplace with which Adaptive Medias will integrate its Media Graph platform.
- Adaptive Medias shares lost most of their value over the past year, down 95.3% from their 52-week high of $3.10.
Sep. 22, 2015, 9:20 AM
- Adaptive Medias (OTCQB:ADTM) has given the permanent CEO title to John Strong, and made him chairman of the board.
- Strong became interim CEO at the beginning of last month. He had been a tech investor and has more than 30 years of senior-level executive and financial experience in tech.
Aug. 14, 2015, 10:05 AM
- OTC-traded Adaptive Medias (OTCQB:ADTM) is off 21.3% after posting Q2 revenues that were flat sequentially and an EBITDA loss that declined from Q1, but a net loss that widened from the prior year.
- Net loss came to $3.63M vs. a year-ago loss of $1.92M; EPS dropped to -$0.23 from -$0.32 after heavier dilution.
- Revenues were steady at $1.1M (down 1.4% Y/Y) despite a seasonally softer quarter. EBITDA was -$1.8M after R&D expenses and sales and marketing expenses declined slightly.
- It appointed John Strong, its recently named interim CEO, to its board.
- Conference call to come at 1 p.m. today.
Aug. 6, 2015, 10:19 AM
- Ad-tech firm Adaptive Medias (OTCQB:ADTM) rose 5.1% as it named John Strong its interim CEO.
- The board is continuing a search for a permanent successor. Strong has more than 30 years' experience in the technology industry and founded several companies in the space.
- In January, the company terminated its CEO Qayed Shareef after he was arrested on sexual assault and child pornography charges.
Jul. 8, 2015, 5:27 PM
- Norman Brodeur -- the director that Adaptive Medias (OTCQB:ADTM +4.1%) terminated, saying he violated fiduciary duty -- has denied the claim in an official response to the company's 8-K.
- Brodeur denies that he breached his duty or that the company had a "for cause" reason to terminate him. He says the company hasn't provided him with any information supporting the claim and, considering that the bylaws only authorize director removal with 80% voting support, "such actions are ultra vires."
- The company says it believes the termination was justified.
Jul. 7, 2015, 11:04 AM
- Adaptive Medias (OTCQB:ADTM +4.7%) says in an 8-K that it has removed director Norman Brodeur for cause.
- The filing says Brodeur has been ousted for violating fiduciary duties. Company bylaws say that directors can't be removed without 80% of voting power in agreement.
- "However, the Chairman of the Company's Board of Directors has determined to remove Mr. Brodeur as a Director nonetheless because he considers Mr. Brodeur's actions to be detrimental and deems his removal to be in the best interests of the Company," the filing states.
Jul. 1, 2015, 1:54 PM
- Nanocap programmatic-ad company Adaptive Medias (OTCQB:ADTM) is up 25.7% today after a business update where it raised guidance and provided a positive outlook on 2015 progress.
- The firm now sees Q2 revenues between $1M and $1.1M (vs. a year-ago $1.1M) with a strategy focused more on its higher-margin Media Graph platform, acquired last summer.
- Revenues last quarter were a Q1 record $1.17M, in large part due to Media Graph.
- Success in a cost reduction plan means that the firm expects to reach positive cash flow and breakeven sooner than expected, but it sill expects "a need to raise additional capital in the interim until profitability is achieved."
May 12, 2015, 2:07 PM
- Programmatic-ad firm Adaptive Medias (OTCQB:ADTM) has climbed to a 30.4% gain so far after posting record Q1 revenues despite a wider loss as the company took on millions more in stock compensation expense.
- Revenues of $1.17M were up 60% Y/Y in large part due to last summer's acquisition of Media Graph.
- Adjusted EBITDA of -$6.3M was a wider loss than Q4's -$2.8M and Q3's -$3.1M, as the company took a one-time settlement cost of $3.7M. Excluding that, EBITDA improved sequentially.
- Previously: Adaptive Medias agrees to $4.5M in private-placement sales (May. 05 2015)
May 5, 2015, 3:02 PM
- Adaptive Medias (OTCQB:ADTM -0.5%) says it's secured $4.5M via three separate private placements, all from the same private investor.
- In a first round, the company agreed to sell 1,183,432 shares at $1.69/share for proceeds of $2M, and it's planning two other capital raises for $1M and $1.5M for later dates.
- The firm is planning on using the funds to add personnel around its Media Graph digital monetization platform.