NEW YORK–(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…