Arena Fortify Acquisition Corp.’s (NASDAQ:AFACU) Lock-Up Period Will End on May 9th

Arena Fortify Acquisition’s (NASDAQ:AFACUGet Rating) lock-up period will end on Monday, May 9th. Arena Fortify Acquisition had issued 15,000,000 shares in its public offering on November 10th. The total size of the offering was $150,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

NASDAQ:AFACU opened at $10.07 on Monday. The business’s 50-day moving average price is $10.10. Arena Fortify Acquisition has a 1-year low of $10.00 and a 1-year high of $10.20.

Large investors have recently added to or reduced their stakes in the company. Union Square Park Capital Management LLC bought a new stake in shares of Arena Fortify Acquisition during the fourth quarter worth about $101,000. Yakira Capital Management Inc. bought a new stake in shares of Arena Fortify Acquisition during the fourth quarter worth about $253,000. Karpus Management Inc. bought a new stake in shares of Arena Fortify Acquisition during the fourth quarter worth about $253,000. Walleye Trading LLC bought a new stake in shares of Arena Fortify Acquisition during the fourth quarter worth about $455,000. Finally, Wolverine Asset Management LLC bought a new stake in Arena Fortify Acquisition in the fourth quarter valued at approximately $505,000.

Arena Fortify Acquisition Company Profile (Get Rating)

Arena Fortify Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on acquisition candidates within the natural resources industry. The company was incorporated in 2021 and is based in New York, New York.

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