SPACSphere Acquisition Corp.’s (NASDAQ:SSAC) Lock-Up Period Will End Tomorrow

SPACSphere Acquisition’s (NASDAQ:SSAC) lock-up period will expire on Wednesday, August 5th. SPACSphere Acquisition had issued 15,000,000 shares in its public offering on February 6th. The total size of the offering was $150,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of SPACSphere Acquisition in a report on Friday, May 29th. They issued a “sell (e)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

SPACSphere Acquisition Trading Down 0.1%

Shares of NASDAQ:SSAC opened at $10.04 on Tuesday. The company’s 50-day simple moving average is $10.00. SPACSphere Acquisition has a 1 year low of $9.85 and a 1 year high of $10.05.

About SPACSphere Acquisition

SPACSphere Acquisition Corp is a blank check company.