MMA Capital Management Announces Hunt Exercise of Option to Acquire MGM
MMA Capital Mgmt, LLC (MMAC)
US:NASDAQ Investor Relations:
mmacapitalmanagement.com
Company Research
Source: PR Newswire
BALTIMORE, Oct. 5, 2018 /PRNewswire/ -- MMA Capital Management, LLC (NASDAQ: MMAC) ("MMA Capital" or "the Company") today announced that an affiliate of Hunt Companies, Inc. ("Hunt") has exercised Hunt's option as set forth in the Master Transaction Agreement dated January 8, 2018 between the Company and Hunt ("MTA") to take assignment of the Company's commitment to acquire the LIHTC business of Morrison Grove Management, LLC ("MGM") pursuant to the Purchase and Sale Agreement dated as of the 8th day of January, 2018 (the "MGM PSA"). As a result of the Company's assignment of the MGM PSA and Hunt's closing thereunder, the Company will recognize an increase in common shareholders' equity of approximately $14.2 million in the fourth quarter, or approximately $2.32 per share based on our diluted shares outstanding at June 30, 2018. Michael Falcone, MMA Capital 's Chief Executive Officer stated, "As discussed in our filing for the second quarter, Hunt has now elected to
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