Southern Cross Acquisition I Corp.’s Quiet Period To End on August 31st (NASDAQ:NCOOU)

Southern Cross Acquisition I’s (NASDAQ:NCOOU – Get Free Report) quiet period is set to expire on Monday, August 31st. Southern Cross Acquisition I had issued 10,000,000 shares in its initial public offering on July 21st. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During Southern Cross Acquisition I’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration 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.

Southern Cross Acquisition I Stock Performance

Shares of Southern Cross Acquisition I stock opened at $10.02 on Friday. Southern Cross Acquisition I has a one year low of $9.99 and a one year high of $10.82.

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Southern Cross Acquisition I is a blank check company, also known as a special purpose acquisition company (SPAC), formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

As a SPAC, the company does not have ongoing commercial operations of its own and is focused on identifying and completing an initial acquisition opportunity. Its business strategy is typically to target companies across a range of industries and geographies, depending on the terms of its formation documents and the expertise of its management team.

Publicly available details about Southern Cross Acquisition I’s specific target sector, historical operating background, and broader geographic focus are limited.

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