Modern Media Acquisition Corp. Announces Pricing of $180 Million Initial Public Offering
12 Maio 2017 - 10:27AM
Business Wire
Modern Media Acquisition Corp. (the “Company”) has announced the
pricing of its initial public offering of 18 million units at an
offering price of $10.00 per unit, each unit consisting of one
share of the Company’s common stock, one right and one-half of one
warrant. Each right will entitle the holder thereof to receive
one-tenth of one share of the Company’s common stock (without
payment of additional consideration) upon the consummation of the
Company’s initial business combination. Each whole warrant will
entitle the holder thereof to purchase one share of the Company’s
common stock at $11.50 per share. Modern Media Acquisition Corp. is
a blank check company formed for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase, reorganization,
recapitalization or other similar business combination with a
target company. The Company intends to seek a target company with
an enterprise value of approximately $500 million to $1.5 billion.
The proceeds of the offering will be used to fund such business
combination.
The offering is expected to close on May 17, 2017 and the units
are expected to begin trading on May 12, 2017 on the NASDAQ Capital
Market (“NASDAQ”) under the symbol “MMDMU”. The common stock,
rights and warrants comprising the units will begin separate
trading on the 52nd day following the date of the prospectus,
unless Macquarie Capital allows earlier separate trading. Once the
common stock, rights and warrants begin separate trading, they will
be listed on NASDAQ under the ticker symbols “MMDM,” “MMDMR” and
“MMDMW,” respectively.
Macquarie Capital is acting as sole bookrunner of the offering
and EarlyBirdCapital, Inc., Cowen and Company, LLC and I-Bankers
Securities, Inc. are acting as co-managers of the offering. Modern
Media Acquisition Corp. has granted the underwriters a 45-day
option to purchase up to an additional 2.7 million units to
cover over-allotments, if any, in the public offering.
A registration statement relating to these securities has been
filed with and declared effective by the Securities and Exchange
Commission on May 11, 2017.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any State or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such State or
jurisdiction.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Macquarie
Capital, Attn: Syndicate Department, 125 West 55th Street, L-22,
New York, New York 10019, telephone: 212-231-0440, or by emailing:
MacquarieEquitySyndicateUSA@macquarie.com; EarlyBirdCapital, Inc.,
Attn: Jillian Carter, 366 Madison Avenue, 8th Floor, New York, New
York 10017, telephone: 212-661-0200, or by emailing:
jcarter@ebcap.com; Cowen and Company, LLC c/o Broadridge Financial
Services., Attn: Prospectus Department, 1155 Long Island Avenue,
Edgewood, New York 11717, or by telephone: (631) 274-2806; and
I-Bankers Securities, Inc., Attn: Chris Nash, 535 5th Avenue, 4th
Floor, New York, New York 10017, telephone: 214-687-0020, or by
emailing: Chris @ibsgroup.net.
FORWARD-LOOKING STATEMENTS
Some of the statements contained in this press release may
constitute “forward-looking statements” for purposes of the federal
securities laws. Forward-looking statements are statements other
than historical fact, and may include statements regarding Modern
Media Acquisition Corp.’s (“Modern Media” or the “Company”)
expectations, beliefs, intentions or strategies regarding future
actions or events, including the closing of the initial public
offering, the Company’s ability to acquire an operating company and
thereafter successfully operate any acquired company and the
Company’s ability to identify and effect a combination with a
target with the desired enterprise value. The forward-looking
statements contained in this press release are based on Modern
Media’s current expectations and beliefs concerning potential
future developments and events, and their potential effects on
Modern Media. There can be no assurance that any such future
developments or events affecting Modern Media will be those that it
has anticipated. Forward-looking statements involve a number of
risks, uncertainties (some of which are beyond Modern Media’s
control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements, including those set
forth in the Risk Factors section of the Company’s registration
statement and preliminary prospectus for the Company’s initial
public offering filed with the U.S. Securities and Exchange
Commission (“SEC”). Copies are available on the SEC’s website,
www.sec.gov. Modern Media undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170512005323/en/
Modern Media Acquisition Corp.Lewis W. Dickey, Jr.President and
Chief Executive Officerldickey@modernmediaco.com
Modern Media Acquisition (NASDAQ:MMDMU)
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