MODERN MEDIA ACQUISITION CORP. (NASDAQ:MMDMU) Files An 8-K Other Events

Item8.01

As previously disclosed by Modern Media Acquisition Corp. (the
Company), on May17, 2017 (the Closing
Date), the Company completed its initial public offering
(IPO) of 20,700,000 Units
(Units), including the issuance of 2,700,000
Units as a result of the underwriters exercise of their
over-allotment option in the IPO. Each Unit consists of one share
of common stock, par value $0.0001 per share (Common
Stock), one right (Right) and
one-half of one
warrant (Warrant). Each Right entitles the
holder thereof to receive one-tenth of one share of Common Stock
(for no additional consideration) upon the consummation of an
initial business combination. Each whole Warrant entitles the
holder thereof to purchase one share of Common Stock for $11.50
per share. The Units were sold at an offering price of $10.00 per
Unit, resulting in gross proceeds to the Company of
$207,000,000.

Also as previously
disclosed, on the Closing Date the Company completed a private
placement (the Private Placement) of an
aggregate of 7,320,000 warrants (the Private Placement
Warrants), at a price of $1.00 per Private Placement
Warrant, to Modern Media Sponsor, LLC, resulting in gross
proceeds to the Company of $7,320,000.

A total of
$209,070,000 of the net proceeds from the IPO and the Private
Placement were placed in a trust account established for the
benefit of the Companys public stockholders at Deutsche Bank
Trust Company Americas, with Continental Stock Transfer Trust
Company acting as trustee. Attached hereto as Exhibit 99.1 and
incorporated by reference herein is an audited balance sheet of
the Company as of May 17, 2017, reflecting receipt of the
proceeds from the completion of the IPO and the Private
Placement.

-2-

About MODERN MEDIA ACQUISITION CORP. (NASDAQ:MMDMU)

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. The Company intends to evaluate both private and public companies as potential initial business combination targets. As of March 8, 2017, the Company had conducted no operations and had generated no revenues.

MODERN MEDIA ACQUISITION CORP. (NASDAQ:MMDMU) Recent Trading Information

MODERN MEDIA ACQUISITION CORP. (NASDAQ:MMDMU) closed its last trading session at with 197,950 shares trading hands.