MDCA - Dividend announcements

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