Galata Acquisition Corp. II (NASDAQ:LATA – Get Free Report) shares dropped 0.7% during trading on Tuesday . The company traded as low as $9.91 and last traded at $9.95. Approximately 156,303 shares traded hands during mid-day trading, an increase of 3,724% from the average daily volume of 4,088 shares. The stock had previously closed at $10.02.
Galata Acquisition Corp. II Trading Down 0.7%
Institutional Investors Weigh In On Galata Acquisition Corp. II
A number of hedge funds have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. bought a new position in Galata Acquisition Corp. II during the fourth quarter valued at $13,446,000. Picton Mahoney Asset Management bought a new stake in Galata Acquisition Corp. II in the fourth quarter worth $9,960,000. Alberta Investment Management Corp purchased a new position in Galata Acquisition Corp. II during the fourth quarter worth $7,221,000. AQR Arbitrage LLC bought a new position in Galata Acquisition Corp. II during the fourth quarter valued at $6,747,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of Galata Acquisition Corp. II in the fourth quarter valued at $5,976,000.
Galata Acquisition Corp. II Company Profile
Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.
The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.
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