Integral Acquisition Co. 1 (NASDAQ:INTE) Shares Down 5.5% – Here’s Why

Integral Acquisition Co. 1 (NASDAQ:INTE) fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $10.40 and last traded at $10.40. 300 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 806 shares. The stock had previously closed at $11.00.

Integral Acquisition Co. 1 Price Performance

The firm has a 50-day simple moving average of $10.40 and a 200 day simple moving average of $10.54.

Integral Acquisition Co. 1 Company Profile

Integral Acquisition Co 1 is a Delaware‐incorporated special purpose acquisition company (SPAC) listed on the Nasdaq under the ticker INTE. The firm was formed to raise capital through an initial public offering and to consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. As a blank‐check vehicle, Integral Acquisition Co 1 does not engage in any commercial operations until it identifies and completes a qualifying transaction.

The company completed its initial public offering in mid-2021, selling units at $10.00 each and generating gross proceeds that are held in a trust account pending deployment.