RRE Ventures Acquisition’s (NASDAQ:RREV – Get Free Report) lock-up period is set to expire on Tuesday, October 27th. RRE Ventures Acquisition had issued 25,000,000 shares in its initial public offering on April 30th. The total size of the offering was $250,000,000 based on an initial share price of $10.00. After the end of RRE Ventures Acquisition’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Analysts Set New Price Targets
Separately, Weiss Ratings began coverage on RRE Ventures Acquisition in a research report on Tuesday, August 18th. They issued a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.
Check Out Our Latest Report on RRE Ventures Acquisition
RRE Ventures Acquisition Price Performance
Shares of RREV stock opened at $9.90 on Thursday. RRE Ventures Acquisition has a one year low of $9.86 and a one year high of $9.94. The stock’s 50 day moving average is $9.92.
Institutional Trading of RRE Ventures Acquisition
Institutional investors and hedge funds have recently made changes to their positions in the company. Governors Lane LP purchased a new position in shares of RRE Ventures Acquisition in the 2nd quarter valued at $2,468,000. Rivernorth Capital Management LLC purchased a new stake in RRE Ventures Acquisition during the 2nd quarter worth $993,000. Finally, Moore Capital Management LP purchased a new stake in RRE Ventures Acquisition during the 2nd quarter worth $2,468,000.
RRE Ventures Acquisition Company Profile
RRE Ventures Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Its potential transaction could take the form of a merger, stock purchase, asset acquisition, reorganization or similar combination.
The company was established as an acquisition vehicle rather than an operating business. It does not manufacture products or provide services to customers, and its activities are primarily focused on evaluating potential target companies, negotiating a transaction and completing the related regulatory and shareholder approval processes.
RRE Ventures Acquisition Corp.
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