Starry Sea Acquisition’s (NASDAQ:SSEAU – Get Free Report) lock-up period will expire on Wednesday, February 4th. Starry Sea Acquisition had issued 5,000,000 shares in its public offering on August 8th. The total size of the offering was $50,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Starry Sea Acquisition Trading Up 0.8%
Shares of Starry Sea Acquisition stock opened at $10.22 on Friday. Starry Sea Acquisition has a 52-week low of $10.03 and a 52-week high of $11.11. The firm has a 50-day moving average price of $10.20.
Hedge Funds Weigh In On Starry Sea Acquisition
A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of Starry Sea Acquisition during the 3rd quarter valued at $243,000. Centiva Capital LP bought a new stake in shares of Starry Sea Acquisition during the third quarter valued at about $254,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Starry Sea Acquisition in the third quarter worth about $1,004,000. Heights Capital Management Inc. purchased a new position in Starry Sea Acquisition during the third quarter valued at approximately $1,014,000. Finally, Radcliffe Capital Management L.P. bought a new stake in Starry Sea Acquisition during the 3rd quarter worth approximately $1,302,000.
Starry Sea Acquisition Company Profile
Starry Sea Acquisition Corp. (NASDAQ: SSEAU) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a business combination with one or more operating businesses. As a blank‑check vehicle, the company’s principal activity is to identify, evaluate and negotiate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination that would result in a change of the company’s purpose.
Like other SPACs, funds raised by Starry Sea Acquisition are typically held in a trust account while the management team pursues potential targets.
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