IG Acquisition Corp.’s Quiet Period To Expire on January 5th (OTCMKTS:IGACU)

IG Acquisition’s (OTCMKTS:IGACU) quiet period will end on Monday, January 5th. IG Acquisition had issued 15,000,000 shares in its initial public offering on November 25th. The total size of the offering was $150,000,000 based on an initial share price of $10.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

IG Acquisition Trading Down 0.1%

Shares of IGACU stock opened at $10.03 on Monday. The firm has a fifty day moving average price of $10.07 and a 200 day moving average price of $10.10. IG Acquisition has a 12 month low of $10.00 and a 12 month high of $10.18.

IG Acquisition Company Profile

IG Acquisition Corporation is a special purpose acquisition company that trades on the OTC Markets under the ticker IGACU. Structured as a blank-check vehicle, the firm was formed with the objective of effecting a merger, stock exchange, asset acquisition, or similar business combination with one or more companies.

Proceeds from IG Acquisition’s initial public offering are held in a trust account and will be used to finance a qualifying transaction. To date, the company has not announced a definitive target and remains focused on leveraging its management team’s capital markets expertise to identify and structure a suitable business combination.

While IG Acquisition operates primarily in the United States marketplace, it has not publicly disclosed a specific industry sector or geographic focus for its search.