Rivernorth Capital Management LLC Takes Position in Galata Acquisition Corp. II $LATA

Rivernorth Capital Management LLC bought a new position in shares of Galata Acquisition Corp. II (NASDAQ:LATA – Free Report) in the first quarter, HoldingsChannel reports. The fund bought 299,997 shares of the company’s stock, valued at approximately $2,997,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. purchased a new stake in Galata Acquisition Corp. II during the 4th quarter worth about $13,446,000. Picton Mahoney Asset Management purchased a new position in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $9,960,000. Alberta Investment Management Corp acquired a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth about $7,221,000. AQR Arbitrage LLC purchased a new stake in Galata Acquisition Corp. II during the fourth quarter worth approximately $6,747,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in Galata Acquisition Corp. II in the fourth quarter valued at approximately $5,976,000.

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Galata Acquisition Corp. II Price Performance

NASDAQ LATA opened at $10.13 on Wednesday. The company has a fifty day moving average of $10.10. Galata Acquisition Corp. II has a 1 year low of $9.91 and a 1 year high of $10.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on shares of Galata Acquisition Corp. II in a research note on Tuesday, May 26th. They issued a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Check Out Our Latest Analysis on Galata Acquisition Corp. II

About Galata Acquisition Corp. II

(Free Report)

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.

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