Broadscale Acquisition (OTCMKTS:SCLEU) Stock Price Up 0.2% – Here’s Why

Shares of Broadscale Acquisition Corp. (OTCMKTS:SCLEU) shot up 0.2% during mid-day trading on Tuesday . The stock traded as high as $10.06 and last traded at $10.06. 5,200 shares changed hands during trading, a decline of 30% from the average session volume of 7,413 shares. The stock had previously closed at $10.04.

Broadscale Acquisition Stock Performance

The firm has a fifty day moving average price of $10.06 and a 200 day moving average price of $10.06.

Broadscale Acquisition Company Profile

Broadscale Acquisition (OTCMKTS:SCLEU) is a blank-check company incorporated in Delaware as a special purpose acquisition company (SPAC). It was formed to raise capital through an initial public offering and to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more target companies. Broadscale Acquisition operates under the rules and timelines governing SPACs, holding IPO proceeds in trust until a qualifying transaction is completed.

In its IPO, Broadscale Acquisition issued units, each consisting of one share of common stock and one-half of one warrant.