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Millennial Media Inc. (MM) Message Board

  • psuskifan psuskifan Feb 3, 2014 3:32 PM Flag

    20% of MM shares could sell tomorrow

    Shares acquired in the Jumptag purchase. Check out the article on Seeking Alpha. MM is going to tank.

    "On August 13th, 2013, Millennial announced that it has entered a definitive agreement to acquire Jumptap for an amount of $232 million in a predominantly stock transaction, whereby shareholders of Jumptap received nearly 24.7 million shares of Millennial, which are approximately 22.5% of Millennial's outstanding shares...

    The initial phase of this lockup is ending this week, and releasing 8.3 million shares immediately into the market. The additional 16.4 million shares not being released this week will end their lock up period in early May of this year (in 3 months time).

    The volume of shares released from lock up is huge, and amounts to over 20% of the company's outstanding shares. Of extremely high relevance is the identity of the soon to be selling shareholders, and their investment profiles."

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