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Millennial Media Inc. (MM) Message Board

  • joebigbuck joebigbuck Aug 19, 2013 5:32 PM Flag

    Why the share price tanked????

    Anyone read the SEC doc released today? I thought the share price was fixed at 9.13, which was Friday's close before the deal was announced. That was also the impression management gave during the C.C.
    But now this.....

    "the final number of Company common shares to be issued in the Merger to be determined by reference to the average of the closing stock prices of Millennial's common stock for the five trading days ending on the trading day that is three trading days prior to the closing date of the Merger."

    This would explain why the share price tanked, as it would lower the price of Jumpstart considerably.
    It would also explain why the share price will jump right back up once the deal closes.

    Sentiment: Hold

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MM
1.60-0.01(-0.62%)Jul 2 4:05 PMEDT