Vernal Capital Acquisition’s (NYSE:VECA – Get Free Report) lock-up period will end on Monday, November 2nd. Vernal Capital Acquisition had issued 10,000,000 shares in its IPO on May 6th. The total size of the offering was $100,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised Vernal Capital Acquisition from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, September 14th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.
Read Our Latest Research Report on Vernal Capital Acquisition
Vernal Capital Acquisition Price Performance
VECA stock opened at $10.08 on Friday. The stock has a 50 day moving average price of $10.16. Vernal Capital Acquisition has a one year low of $9.87 and a one year high of $11.01.
About Vernal Capital Acquisition
Vernal Capital Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the New York Stock Exchange under the symbol VECA. The company was formed to pursue a business combination, such as a merger, acquisition or similar transaction, with one or more private businesses.
Unlike an operating company, Vernal Capital Acquisition does not currently provide products or services to customers. Its primary activities involve identifying a suitable acquisition target, completing due diligence and negotiating a transaction that would allow the target company to become publicly traded.
The company’s public materials do not provide enough verified information to describe an operating business, geographic customer base or leadership team in detail.
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