Friday, September 06, 2019

Equity Corporate Actions Alert #2019 - 179
(UPDATED) Information Regarding the Merger & Business Combination of Modern Media Acquisition Corp. (MMDM/R/U/W

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  • Industry Announcement

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At a special meeting held on August 28, 2019, the shareholders of Modern Media Acquisition Corp. (MMDM/R/U/W) approved a proposal to adopt the Business Transaction Agreement which provides for a business combination, between Modern Media Acquisition Corp. and Akazoo Limited. The merger became effective on September 10, 2019. In anticipation of the closing, the stock was halted immediately following the after-hours session at 8 p.m. on September 10, 2019. The stock will remain halted today (September 11th) and will be suspended effective September 12, 2019. The details are as follows:

Company: Modern Media Acquisition Corp.
Issue: Common Stock
CUSIP#: 60765P103
Symbol: MMDM
Last Trading Date: September 10, 2019
Marketplace Effective Date for Suspension: September 12, 2019
Merger Consideration: One (1) Ordinary Share of Akazoo S.A. for each share held.
Company: Modern Media Acquisition Corp.
Issue: Rights
CUSIP#: 60765P129
Symbol: MMDMR
Last Trading Date: September 10, 2019
Marketplace Effective Date for Suspension: September 12, 2019
Merger Consideration: Immediately prior to closing each right will be converted into 1/10 of one share of common stock
Company: Modern Media Acquisition Corp.
Issue: Units
CUSIP#: 60765P202
Symbol: MMDMU
Last Trading Date: September 10, 2019
Marketplace Effective Date for Suspension: September 12, 2019
Merger Consideration: Each unit will be separated into its components prior to closing. One share of common stock, a right to receive 1/10th of one share of common stock and 1/2 of one warrant to purchase common stock.
Company: Modern Media Acquisition Corp.
Issue: Warrants
CUSIP#: 60765P111
Symbol: MMDMW
Last Trading Date: September 10, 2019
Marketplace Effective Date for Suspension: September 12, 2019
Merger Consideration: One (1) Akazoo S.A. Warrant for each warrant held.

As a result of the business combination the combined company will be renamed Akazoo S.A. and list their common stock & warrants on the Nasdaq Capital Market. The details are as follows:

Company Name: Akazoo S.A.
Issue Type: Ordinary Shares
CUSIP: L0164E108
Symbol: SONG
Marketplace Effective Date: September 11, 2019

Company Name: Akazoo S.A.
Issue Type: Warrant
CUSIP: L0164E116
Symbol: SONGW
Marketplace Effective Date: September 11, 2019

If you would like to register as a market maker in SONG or SONGW, contact Nasdaq Trading Services at +1 212 231 5100.



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