BEST SPAC I Acquisition Corp.’s (NASDAQ:BSAAU) Lock-Up Period Will End on December 10th

BEST SPAC I Acquisition’s (NASDAQ:BSAAU) lock-up period will end on Wednesday, December 10th. BEST SPAC I Acquisition had issued 5,500,000 shares in its IPO on June 13th. The total size of the offering was $55,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

BEST SPAC I Acquisition Trading Down 1.1%

Shares of BEST SPAC I Acquisition stock opened at $10.11 on Friday. BEST SPAC I Acquisition has a one year low of $9.99 and a one year high of $10.92. The stock’s 50 day moving average is $10.21.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Highbridge Capital Management LLC purchased a new position in shares of BEST SPAC I Acquisition during the second quarter worth about $1,506,000. Clear Street LLC purchased a new stake in BEST SPAC I Acquisition during the 2nd quarter valued at approximately $3,236,000. Mint Tower Capital Management B.V. acquired a new stake in BEST SPAC I Acquisition during the 2nd quarter worth approximately $452,000. Wolverine Asset Management LLC purchased a new position in shares of BEST SPAC I Acquisition in the 2nd quarter valued at approximately $3,776,000. Finally, MMCAP International Inc. SPC purchased a new position in shares of BEST SPAC I Acquisition in the 2nd quarter valued at approximately $1,255,000.

About BEST SPAC I Acquisition

We are a blank check company incorporated in the British Virgin Islands as a business company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.