Starry Sea Acquisition’s (NASDAQ:SSEAU – Get Free Report) lock-up period will end on Wednesday, February 4th. Starry Sea Acquisition had issued 5,000,000 shares in its public offering on August 8th. The total size of the offering was $50,000,000 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 end of the lock-up period.
Starry Sea Acquisition Stock Performance
Shares of Starry Sea Acquisition stock opened at $10.22 on Wednesday. Starry Sea Acquisition has a 12-month low of $10.03 and a 12-month high of $11.11. The business’s 50-day moving average price is $10.20.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Harraden Circle Investments LLC bought a new stake in Starry Sea Acquisition during the third quarter worth $5,154,000. Highbridge Capital Management LLC acquired a new position in shares of Starry Sea Acquisition during the 3rd quarter worth $4,115,000. Clear Street Group Inc. bought a new stake in shares of Starry Sea Acquisition during the 3rd quarter worth $2,999,000. Wolverine Asset Management LLC bought a new stake in shares of Starry Sea Acquisition during the 3rd quarter worth $2,998,000. Finally, Mangrove Partners IM LLC acquired a new stake in Starry Sea Acquisition in the third quarter valued at about $2,535,000.
About Starry Sea Acquisition
Starry Sea Acquisition Corp. (NASDAQ: SSEAU) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a business combination with one or more operating businesses. As a blank‑check vehicle, the company’s principal activity is to identify, evaluate and negotiate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination that would result in a change of the company’s purpose.
Like other SPACs, funds raised by Starry Sea Acquisition are typically held in a trust account while the management team pursues potential targets.
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