K2 Principal Fund L.P. Takes Position in Galata Acquisition Corp. II $LATA

K2 Principal Fund L.P. purchased a new stake in shares of Galata Acquisition Corp. II (NASDAQ:LATA) in the fourth quarter, Holdings Channel.com reports. The firm purchased 100,000 shares of the company’s stock, valued at approximately $996,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LATA. Condor Capital Management purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth approximately $140,000. Deltec Asset Management LLC purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth approximately $149,000. ABC Arbitrage SA purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth approximately $199,000. Wolverine Asset Management LLC purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth approximately $322,000. Finally, MMCAP International Inc. SPC purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth approximately $996,000.

Galata Acquisition Corp. II Stock Performance

LATA stock opened at $10.10 on Friday. Galata Acquisition Corp. II has a 52 week low of $9.91 and a 52 week high of $10.20. The firm’s fifty day simple moving average is $10.05.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on shares of Galata Acquisition Corp. II in a research note on Tuesday, May 26th. They issued a “sell (e+)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Galata Acquisition Corp. II

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.