East West Ave Acquisition’s (NASDAQ:EWAVU – Get Free Report) quiet period is set to expire on Wednesday, September 9th. East West Ave Acquisition had issued 10,000,000 shares in its public offering on July 31st. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. 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.
Analysts Set New Price Targets
Separately, Wall Street Zen raised East West Ave Acquisition to a “hold” rating in a report on Saturday, August 15th.
Get Our Latest Stock Analysis on EWAVU
East West Ave Acquisition Stock Performance
Insider Activity at East West Ave Acquisition
In other news, insider Space Summit Capital Llc bought 1,087,000 shares of East West Ave Acquisition stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $10.00 per share, with a total value of $10,870,000.00. Following the completion of the acquisition, the insider directly owned 1,087,000 shares of the company’s stock, valued at $10,870,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
East West Ave Acquisition Company Profile
East West Ave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies.
The company does not operate a commercial business or offer products and services of its own. Its activities are focused on evaluating potential merger, acquisition, capital stock exchange, asset acquisition, reorganization or similar transactions.
East West Ave Acquisition Corp.’s securities include publicly traded units under the NASDAQ symbol EWAVU.
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