Newbridge Acquisition Ltd’s (NASDAQ:NBRGU) Lock-Up Period Will End on July 29th

Newbridge Acquisition’s (NASDAQ:NBRGU) lock-up period will expire on Wednesday, July 29th. Newbridge Acquisition had issued 5,000,000 shares in its IPO on January 30th. The total size of the offering was $50,000,000 based on an initial share price of $10.00. After the expiration of Newbridge Acquisition’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Newbridge Acquisition Trading Down 0.1%

NASDAQ:NBRGU opened at $10.24 on Wednesday. The business’s 50-day moving average price is $10.22. Newbridge Acquisition has a 1-year low of $9.97 and a 1-year high of $11.04.

Institutional Investors Weigh In On Newbridge Acquisition

An institutional investor recently bought a new stake in Newbridge Acquisition stock. Rivernorth Capital Management LLC purchased a new stake in shares of Newbridge Acquisition Ltd (NASDAQ:NBRGU) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 325,000 shares of the company’s stock, valued at approximately $3,260,000.

About Newbridge Acquisition

Newbridge Acquisition (NASDAQ: NBRGU) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, formed to raise capital through an initial public offering with the objective of effecting a merger, share exchange, asset acquisition or similar business combination. As a SPAC, its principal business activity is to identify and complete an acquisition that will allow a private operating company to become publicly listed through a business combination rather than a traditional IPO process.

The company’s securities trade as units on the Nasdaq under the ticker NBRGU, representing the SPAC vehicle prior to any separation of underlying securities or consummation of a business combination.