Modern Media Acquisition Corp’s Lock-Up Period To End on November 8th (NASDAQ:MMDMU)

Modern Media Acquisition Corp’s (NASDAQ:MMDMU) lock-up period will end on Wednesday, November 8th. Modern Media Acquisition Corp had issued 18,000,000 shares in its IPO on May 12th. The total size of the offering was $180,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu KCG Holdings LLC purchased a new position in Modern Media Acquisition Corp during the second quarter worth about $133,000. Cowen Inc. purchased a new position in Modern Media Acquisition Corp during the second quarter worth about $1,833,000. Periscope Capital Inc. purchased a new position in Modern Media Acquisition Corp during the second quarter worth about $4,648,000. OxFORD Asset Management LLP purchased a new position in Modern Media Acquisition Corp during the second quarter worth about $8,838,000. Finally, Davidson Kempner Capital Management LP purchased a new position in Modern Media Acquisition Corp during the second quarter worth about $10,517,000.

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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