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MuniMae becoming MMA Capital, doing reverse stock split

Municipal Mortgage & Equity LLC, or MuniMae, of Baltimore, a real estate asset management company, announced it is changing its name to MMA Capital Management LLC and executing a reverse 1-for-5 stock split, both effective at the close of business Monday. CEO Michael Falcone said: “We would like to trade on one of the nationally recognized exchanges before year end.  One of the many steps to fulfill that goal includes having a trading price that is consistently above the minimum price set by the national exchanges. By effectuating this reverse stock split, we should trade comfortably above that minimum.” MuniMae has traded as low as $1.10 in the past year. The company said the new name reflects the change from the historical tax-exempt debt and equity focus to an expected broader investment platform.

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