Futurewave Acquisition Corp’s Quiet Period Will End on August 4th (NASDAQ:FWACU)

Futurewave Acquisition’s (NASDAQ:FWACU) quiet period is set to expire on Tuesday, August 4th. Futurewave Acquisition had issued 7,500,000 shares in its public offering on June 25th. The total size of the offering was $75,000,000 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 for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Futurewave Acquisition to a “hold” rating in a research note on Saturday, July 4th.

Futurewave Acquisition Trading Down 0.1%

Shares of NASDAQ:FWACU opened at $10.07 on Thursday. Futurewave Acquisition has a one year low of $10.00 and a one year high of $10.15.

About Futurewave Acquisition

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Companies like Futurewave Acquisition are typically created to help identify and combine with an operating business, rather than to run a traditional commercial operation themselves.

As a blank check company, Futurewave Acquisition does not provide a broad portfolio of products or services in the conventional sense.