Everest Consolidator Acquisition Co.’s (OTCMKTS:MNTN) Quiet Period Set To Expire on July 1st

Everest Consolidator Acquisition’s (OTCMKTS:MNTN) quiet period will end on Tuesday, July 1st. Everest Consolidator Acquisition had issued 11,700,000 shares in its public offering on May 22nd. The total size of the offering was $187,200,000 based on an initial share price of $16.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented 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, the brokerages that served as underwriters will likely initiate research coverage on the company.

Everest Consolidator Acquisition Trading Down 5.5%

Shares of OTCMKTS MNTN opened at $22.01 on Friday. The business’s 50 day moving average price is $13.32 and its 200 day moving average price is $10.84. Everest Consolidator Acquisition has a 52 week low of $18.25 and a 52 week high of $32.49.

Insider Transactions at Everest Consolidator Acquisition

In other news, Director Dana R. Settle sold 800,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $12,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hadi Partovi sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $800,000.00. Following the transaction, the director now owns 447,520 shares of the company’s stock, valued at $7,160,320. This trade represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,594,665 shares of company stock valued at $41,514,640 in the last three months. 60.30% of the stock is currently owned by company insiders.

Everest Consolidator Acquisition Company Profile

Everest Consolidator Acquisition Corporation does not have significant operations. The company intends to a effect merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. It focuses on identifying businesses in the financial services sector.