NEW YORK, July 14, 2021 /PRNewswire/ -- (NASDAQ:MDCA) – The Special Committee of MDC Partners Inc. ("MDC" or the "Company") responded today to highly misleading, inaccurate and false statements made by Indaba Capital ("Indaba") in a press release dated July 13, 2021, concerning the business combination (the "Transaction") between MDC and Stagwell Media LP ("Stagwell"). "Indaba has grossly misrepresented the facts contained in the MDC proxy statement, seemingly to further Indaba's extremely risky gambit of threatening to scuttle this highly attractive business combination as an attempt to extract more value," said Irwin Simon, Chairman of the Special Committee of the MDC Board of Directors. "
Indaba Capital Management L.P. (together with its affiliates, "Indaba" or "we"), which is the largest unaffiliated shareholder of MDC Partners Inc. (NASDAQ:MDCA) ("MDC" or the "Company"), today commented on the supplemental proxy materials issued by the Company in connection with its prospective merger with Stagwell Media LP ("Stagwell"). Based on its analysis of MDC's disclosures, Indaba has concluded that the additional information released only reinforces that the transaction's recently revised terms continue to deprive unaffiliated shareholders of meaningful value. In particular, Indaba is highlighting the following: Massive Stagwell Dividend Pre-Close of Combination - A $139 special
Announces Appointment of New Directors and Formation of Advisory Committee Thunderbird Entertainment Group Inc. (TSXV:TBRD, OTC – THBRF))) ("Thunderbird" or the "Company") announced today that it has entered into a cooperation agreement (the "Cooperation Agreement") with Voss Capital LLC ("Voss"), which, together with its affiliates, owns approximately 13.3% of the outstanding common shares of Thunderbird and is its largest shareholder. The Cooperation Agreement includes the appointment of two new independent directors put forward by Voss, Asha Daniere and Mark Trachuk (the "Appointees") to the Board of Directors of Thunderbird (the "Board") effective immediately, as well as the nominatio
Expresses Concerns with Existing Board's Strategic Direction and Lack of Responsiveness to Shareholder Concerns Urges Management Team and Board to Commit to Formal Strategic Review Voss Capital, LLC, together with its affiliates ("Voss", "we" or "our"), a top shareholder of Thunderbird Entertainment Group Inc. (CVE: TBRD) ("Thunderbird" or the "Company"), today announced its nomination of up to six directors for election to Thunderbird's Board of Directors (the "Board") at the Company's annual general and special meeting of shareholders, previously scheduled for December 6, 2022 (the "2022 Annual Meeting"). Voss has nominated six highly qualified director candidates to better represent sh
NEW YORK, July 26, 2021 /PRNewswire/ -- MDC Partners Inc. (the "Issuer") announced today that the amendments and waivers set out in the third supplemental indenture dated February 8, 2021 (the "Third Supplemental Indenture") in respect of its its 7.500% Senior Notes due 2024, CUSIP C5429X AJ5 (Regulation S) and 552697 AQ7 (Rule 144A) (the "Notes") are operative with immediate effect. The Issuer solicited consents from holders of the Notes to certain proposed amendments and waivers (the "Proposed Amendments and Waivers") to the indenture dated March 23, 2016 (as supplemental or amended from time to time, the "Indenture") described in the consent solicitation statement dated January 21, 2021 p
Shareholders Vote to Approve Proposed Business Combination with Stagwell Resolution Approval Positions MDC to Become a Leader in Some of the Fastest-Growing Segments of the Digital Marketing and Advertising Sector Following Close, Newly Combined Company Will be Renamed Stagwell Inc. NEW YORK, July 26, 2021 /PRNewswire/ -- (NASDAQ:MDCA) – MDC Partners Inc. ("MDC Partners", "MDC" or the "Company") announced today that MDC shareholders voted to approve the previously announced business combination (the "Transaction") of MDC with certain subsidiaries of Stagwell Media LP ("Stagwell"), during a special meeting of shareholders held earlier today. Following the close of the Transaction, the comb
MDC Special Committee Reminds Shareholders to Vote "For" the Amended Transaction Today NEW YORK, July 20, 2021 /PRNewswire/ -- (NASDAQ:MDCA) – MDC Partners Inc. ("MDC Partners", "MDC" or the "Company") announced today that independent proxy advisory firm Glass Lewis & Co. ("Glass Lewis") has joined Institutional Shareholder Services ("ISS") in recommending that MDC shareholders vote FOR the proposal to approve the combination of MDC with certain subsidiaries of Stagwell Media LP ("Stagwell"), at the Company's Special Meeting of Shareholders, scheduled to be held on July 26, 2021.
Stagwell Media LP ("Stagwell") Partner Jay Leveton offered the following comment on the proposed combination of Stagwell's operating businesses with MDC Partners Inc. ("MDC") (NASDAQ:MDCA) (the "Proposed Transaction", or the "combination"): Dear MDC Shareholders: As a Partner of The Stagwell Group, I am writing to encourage you to vote in favor of the Proposed Transaction. We have been working diligently to earn your support and I believe the combination will create a diverse, resilient, and scaled company that can compete with the largest industry participants and create significant value for all stakeholders. Recent news articles and events provide additional support to this thesis for
MDC Special Committee Urges Shareholders to Vote "For" the Amended Transaction (NASDAQ:MDCA) – MDC Partners Inc. ("MDC Partners" or the "Company") announced today that Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, has reversed its prior voting recommendation. ISS now recommends that MDC Partners shareholders vote FOR the proposal to approve the combination of MDC with Stagwell Media LP, which is contributing Stagwell Marketing Group Holdings LLC ("Stagwell"), at the Company's Special Meeting of Shareholders, scheduled to be held on July 26, 2021. Irwin D. Simon, Lead Independent Director & Chair of the MDC Partners' Special Committee commente
Highlights that Mr. Samaha has Disclosed to Fellow MDC Shareholders, Including Indaba, that Madison's Principal Investor is a Long-Time Friend of Mr. Penn Reinforces that Transaction Process is Plagued by Alarming Conflicts and Emerging Interlocks, Which Bode Poorly for the Combined Entity's Corporate Governance Indaba Capital Management L.P. (together with its affiliates, "Indaba" or "we"), which is the largest unaffiliated shareholder of MDC Partners Inc. (NASDAQ:MDCA) ("MDC" or the "Company"), today questioned Stagwell Media LP's ("Stagwell") announcement of its intention to recommend the appointment of Eli Samaha of Madison Avenue Partners, LP ("Madison") to the newly-combined entity'
As a Large MDC Shareholder, Mr. Samaha Will Bring Strong Independent Perspective to the Board of the Combined Company Madison Avenue Partners Strongly Supports the Proposed Combination of MDC and Stagwell and Intends to Vote in Favor of the Transaction Stagwell Media LP ("Stagwell" or the "Company") announced today that it intends to recommend the appointment of Eli Samaha, Founder and Managing Partner of Madison Avenue Partners, LP ("Madison"), to the Board of MDC Partners, Inc. ("MDC") (NASDAQ:MDCA) upon the closing of the combination of MDC with Stagwell (the "Transaction"). Madison is one of the largest shareholders of MDC today and has expressed its support for the Transaction. "E
NEW YORK, July 14, 2021 /PRNewswire/ -- (NASDAQ:MDCA) – The Special Committee of MDC Partners Inc. ("MDC" or the "Company") responded today to highly misleading, inaccurate and false statements made by Indaba Capital ("Indaba") in a press release dated July 13, 2021, concerning the business combination (the "Transaction") between MDC and Stagwell Media LP ("Stagwell"). "Indaba has grossly misrepresented the facts contained in the MDC proxy statement, seemingly to further Indaba's extremely risky gambit of threatening to scuttle this highly attractive business combination as an attempt to extract more value," said Irwin Simon, Chairman of the Special Committee of the MDC Board of Directors. "
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Announces Appointment of New Directors and Formation of Advisory Committee Thunderbird Entertainment Group Inc. (TSXV:TBRD, OTC – THBRF))) ("Thunderbird" or the "Company") announced today that it has entered into a cooperation agreement (the "Cooperation Agreement") with Voss Capital LLC ("Voss"), which, together with its affiliates, owns approximately 13.3% of the outstanding common shares of Thunderbird and is its largest shareholder. The Cooperation Agreement includes the appointment of two new independent directors put forward by Voss, Asha Daniere and Mark Trachuk (the "Appointees") to the Board of Directors of Thunderbird (the "Board") effective immediately, as well as the nominatio
Highlights that Mr. Samaha has Disclosed to Fellow MDC Shareholders, Including Indaba, that Madison's Principal Investor is a Long-Time Friend of Mr. Penn Reinforces that Transaction Process is Plagued by Alarming Conflicts and Emerging Interlocks, Which Bode Poorly for the Combined Entity's Corporate Governance Indaba Capital Management L.P. (together with its affiliates, "Indaba" or "we"), which is the largest unaffiliated shareholder of MDC Partners Inc. (NASDAQ:MDCA) ("MDC" or the "Company"), today questioned Stagwell Media LP's ("Stagwell") announcement of its intention to recommend the appointment of Eli Samaha of Madison Avenue Partners, LP ("Madison") to the newly-combined entity'
As a Large MDC Shareholder, Mr. Samaha Will Bring Strong Independent Perspective to the Board of the Combined Company Madison Avenue Partners Strongly Supports the Proposed Combination of MDC and Stagwell and Intends to Vote in Favor of the Transaction Stagwell Media LP ("Stagwell" or the "Company") announced today that it intends to recommend the appointment of Eli Samaha, Founder and Managing Partner of Madison Avenue Partners, LP ("Madison"), to the Board of MDC Partners, Inc. ("MDC") (NASDAQ:MDCA) upon the closing of the combination of MDC with Stagwell (the "Transaction"). Madison is one of the largest shareholders of MDC today and has expressed its support for the Transaction. "E
Allison+Partners announced the appointment of seven new partners, all of whom have made significant contributions to the growth and evolution of the agency. Agency partners are responsible for the health and growth of the business and driving agency-wide initiatives outside of their specific job remits. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210504005903/en/In order from left to right: Todd Aydelotte, Jill Feldman, Tracey Cassidy, Karyn Barr, Meghan Curtis, Barbara Laidlaw and Tara Chiarell (Photo: Business Wire) New partners include: Todd Aydelotte, managing director, reputation management; Karyn Barr, managing director,
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