Newbridge Acquisition Ltd’s Quiet Period Set To End on March 11th (NASDAQ:NBRGU)

Newbridge Acquisition’s (NASDAQ:NBRGU) quiet period is set to expire on Wednesday, March 11th. 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. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration 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.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Newbridge Acquisition to a “hold” rating in a research report on Saturday, February 7th.

Newbridge Acquisition Trading Down 0.3%

NASDAQ:NBRGU opened at $9.97 on Wednesday. Newbridge Acquisition has a 1-year low of $9.97 and a 1-year high of $10.03.

Newbridge Acquisition Company Profile

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.