Alliance MMA first company to go public, starts trading at $4.50 a share

Mark Shefts leaves Alliance MMA citing personal reasons

Today, Alliance MMA filed a form 8-K with the United States Securities and Exchange Commission. The document cites the departure of one of the organization’s six board of directors.

It reads:

“On October 24, 2017, Mark Shefts, a member of the Board of Directors of Alliance MMA, Inc. (the “Company”) and the Chairman of the Audit Committee thereof, retired from the Company’s Board of Directors for personal reasons. Mr. Shefts did not advise the Company of any disagreement with the Company on any matter relating to its operations, policies or practices. Effective October 24, 2017, Joel Tracy, CPA, a member of the Company’s Board of Directors and a member of the Audit Committee of the Board of Directors, will serve as the Chairman of the Audit Committee. Effective upon Mr. Shefts’ resignation as a director, the size of the Company’s Board of Directors has been reduced from six to five directors.”

The remaining individuals are: Burt Watson, Renzo Gracie, Joseph Gamberale, and Paul K. K. Danner, III, Chairman of the Board and Chief Executive Officer.

Alliance MMA, Inc. was incorporated in 2015 for the purpose of acquiring businesses that engage in the promotion of mixed martial arts (MMA) events. In 2016, the company completed an initial public offering that culminated in a listing on the NASDAQ stock exchange. Alliance MMA is currently the only mixed martial arts promotion company that is publicly-traded. It was the first of its kind to do so since the International Fight League in 2006.