Spacsphere Acquisition Corp.’s (NASDAQ:SSACU) Quiet Period Set To Expire on March 18th

Spacsphere Acquisition’s (NASDAQ:SSACU) quiet period is set to expire on Wednesday, March 18th. Spacsphere Acquisition had issued 15,000,000 shares in its IPO on February 6th. The total size of the offering was $150,000,000 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 research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end 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.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Spacsphere Acquisition from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th.

Spacsphere Acquisition Stock Down 0.2%

SSACU opened at $10.08 on Wednesday. Spacsphere Acquisition has a 52 week low of $10.02 and a 52 week high of $10.15.

About Spacsphere Acquisition

Spacsphere Acquisition (NASDAQ: SSACU) is a special purpose acquisition company (SPAC) whose units trade on the Nasdaq under the ticker SSACU. As a blank‑check company, its primary purpose is to raise capital through public markets and use those proceeds to identify, acquire, or merge with one or more privately held businesses, thereby bringing a target company public through a business combination or reverse merger.

The company’s main activities center on deal sourcing and transaction execution: evaluating potential acquisition targets, negotiating terms of a business combination, and completing the legal and regulatory steps required to consummate a merger.