Energem Corp.’s Lock-Up Period To End on May 16th (NASDAQ:ENCPU)

Energem’s (NASDAQ:ENCPU – Get Rating) lock-up period is set to end on Monday, May 16th. Energem had issued 10,000,000 shares in its IPO on November 16th. The total size of the offering was $100,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

NASDAQ ENCPU opened at $10.15 on Monday. The company has a 50 day simple moving average of $10.16. Energem has a one year low of $10.06 and a one year high of $10.84.

Several hedge funds and other institutional investors have recently bought and sold shares of ENCPU. Saba Capital Management L.P. purchased a new position in shares of Energem in the fourth quarter valued at approximately $7,791,000. Starboard Value LP purchased a new position in Energem in the fourth quarter worth approximately $5,788,000. Beryl Capital Management LLC purchased a new position in Energem in the fourth quarter worth approximately $5,087,000. Oaktree Capital Management LP purchased a new position in Energem in the fourth quarter worth approximately $4,060,000. Finally, Wolverine Asset Management LLC purchased a new position in Energem in the fourth quarter worth approximately $3,147,000.

About Energem (Get Rating)

Energem Corp. does not have significant operations. The company focuses on effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus a target business operating in the energy industry.

Read More