Canna-Global Acquisition Corp’s Lock-Up Period Set To Expire on May 30th (NASDAQ:CNGLU)

Canna-Global Acquisition’s (NASDAQ:CNGLU – Get Rating) lock-up period will expire on Monday, May 30th. Canna-Global Acquisition had issued 20,000,000 shares in its initial public offering on November 30th. The total size of the offering was $200,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Shares of NASDAQ:CNGLU opened at $10.04 on Monday. The business’s 50-day simple moving average is $10.08. Canna-Global Acquisition has a one year low of $9.97 and a one year high of $10.66.

Hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. acquired a new stake in shares of Canna-Global Acquisition in the 4th quarter valued at approximately $20,007,000. Yakira Capital Management Inc. acquired a new position in shares of Canna-Global Acquisition during the 4th quarter worth about $8,104,000. MMCAP International Inc. SPC acquired a new stake in Canna-Global Acquisition in the 4th quarter valued at about $6,078,000. Goldman Sachs Group Inc. acquired a new position in Canna-Global Acquisition during the fourth quarter worth approximately $5,930,000. Finally, Beryl Capital Management LLC acquired a new stake in shares of Canna-Global Acquisition in the fourth quarter valued at approximately $5,521,000.

About Canna-Global Acquisition (Get Rating)

Canna-Global Acquisition Corp intends to acquire assets and businesses through a merger, share exchange, share purchase, reorganization, or similar business combination. It focuses on identify and acquiring a business in the cannabis sector. The company was incorporated in 2021 and is based in Marina Del Rey, California.

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