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Posted 01 June, 2022

Adara Acquisition Corp. appointed Thomas Finke as new CEO

NYSE:ADRA appointed new Chief Executive Officer Thomas Finke in a 8-K filed on 01 June, 2022.


  On June 1, 2022, the Board of Directors of the Company appointed Thomas Finke as Chief Executive Officer and Mr. Finke was replaced as a Compensation Committee member by Dylan Glenn, an independent member of the Company's Board of Directors.  

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Overview of Adara Acquisition Corp.
Business/Consumer Services • Shell companies
Alliance Entertainment Holding Corp. engages in the distribution of music, movies, and consumer electronics. It distributes its physical media, entertainment products, hardware, and accessories through an established multi-channel strategy. The company was founded in 1990 and is headquartered in Plantation, FL.
Market Cap
$229M
View Company Details
Adara Acquisition Corp. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' Arrangements of Certain Officer 


On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp. (the "Company"). On June 1, 2022, the Board of Directors of the Company appointed Thomas Finke as Chief Executive Officer and Mr. Finke was replaced as a Compensation Committee member by Dylan Glenn, an independent member of the Company's Board of Directors. Mr. Sumichrast's resignation follows the SEC filing of a civil complaint in the Western District of North Carolina, alleging Sumichrast defrauded Stone Street Partners, LLC, a private fund that he managed prior to joining Adara. In the SEC's complaint, the SEC alleges Mr. Sumichrast violated the antifraud provisions of Section 17(a)(1) and (3) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a) and (c) thereunder, and Sections 206(1), 206(2), 206(3), and 206(4) of the Investment Advisers Act of 1940, and Rule 206(4)-8 thereunder. The SEC seeks injunctive relief, disgorgement with prejudgment interest, civil penalties, an officer-and-director bar, and a penny stock bar.