Periscope Capital Inc. Takes $4.65 Million Position in Modern Media Acquisition Corp (NASDAQ:MMDMU)

Periscope Capital Inc. purchased a new stake in Modern Media Acquisition Corp (NASDAQ:MMDMU) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 453,000 shares of the company’s stock, valued at approximately $4,648,000. Modern Media Acquisition Corp accounts for approximately 1.7% of Periscope Capital Inc.’s holdings, making the stock its 25th biggest holding.

Modern Media Acquisition Corp (NASDAQ MMDMU) traded up 0.48% during mid-day trading on Friday, reaching $10.42. 1,180 shares of the company’s stock traded hands. Modern Media Acquisition Corp has a 12 month low of $10.09 and a 12 month high of $10.44.

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Modern Media Acquisition Corp Company Profile

Modern Media Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, recapitalization or similar business combination with one or more businesses. The Company may pursue its initial business combination in any business, industry or geographic location, the Company intends to focus on opportunities to capitalize on the ability of its management team to identify, acquire and operate a business in the media, entertainment or marketing services industries.

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