Research Alliance Corporation III’s (NASDAQ:RACC – Get Free Report) lock-up period is set to end on Monday, November 16th. Research Alliance Corporation III had issued 7,500,000 shares in its IPO on May 20th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut Research Alliance Corporation III from a “sell (e)” rating to a “sell (e-)” rating in a report on Monday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, Research Alliance Corporation III currently has an average rating of “Sell”.
Get Our Latest Stock Analysis on Research Alliance Corporation III
Research Alliance Corporation III Trading Down 0.0%
NASDAQ:RACC opened at $10.15 on Wednesday. The business’s 50-day moving average price is $10.99. Research Alliance Corporation III has a 52-week low of $9.62 and a 52-week high of $33.50.
Research Alliance Corporation III (NASDAQ:RACC – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter.
Research Alliance Corporation III Company Profile
Research Alliance Corporation III is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Such transactions may take the form of a merger, stock purchase, or similar acquisition that enables a target company to become publicly traded. Unlike an operating company, Research Alliance Corporation III does not appear to have established commercial products, services, or significant ongoing business operations of its own.
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