Periscope Capital Inc. Invests $4.65 Million in Modern Media Acquisition Corp (MMDMU) Stock

Periscope Capital Inc. acquired a new position in Modern Media Acquisition Corp (NASDAQ:MMDMU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 453,000 shares of the company’s stock, valued at approximately $4,648,000. Modern Media Acquisition Corp makes up 1.7% of Periscope Capital Inc.’s investment portfolio, making the stock its 25th biggest position.

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Shares of Modern Media Acquisition Corp (NASDAQ:MMDMU) traded down 0.58% on Friday, reaching $10.37. 100 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.

About Modern Media Acquisition Corp

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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