Malacca Straits Acquisition’s (OTCMKTS:MLACU – Get Free Report) quiet period is set to expire on Wednesday, January 22nd. Malacca Straits Acquisition had issued 21,000,000 shares in its IPO on December 13th. The total size of the offering was $210,000,000 based on an initial share price of $10.00. During Malacca Straits Acquisition’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Malacca Straits Acquisition Stock Up 0.1 %
Shares of OTCMKTS MLACU opened at $10.03 on Friday. Malacca Straits Acquisition has a 1-year low of $10.00 and a 1-year high of $10.05. The business’s fifty day moving average price is $10.32 and its two-hundred day moving average price is $10.50.
Institutional Trading of Malacca Straits Acquisition
An institutional investor recently bought a new position in Malacca Straits Acquisition stock. Tuttle Capital Management LLC acquired a new position in Malacca Straits Acquisition Company Limited (OTCMKTS:MLACU – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 40,000 shares of the company’s stock, valued at approximately $401,000. Malacca Straits Acquisition makes up 2.4% of Tuttle Capital Management LLC’s holdings, making the stock its 23rd largest holding.
Malacca Straits Acquisition Company Profile
Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries.
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