BEST SPAC I Acquisition Corp.’s (NASDAQ:BSAAU) Lock-Up Period Set To Expire Tomorrow

BEST SPAC I Acquisition’s (NASDAQ:BSAAU) lock-up period is set to expire on Wednesday, December 10th. BEST SPAC I Acquisition had issued 5,500,000 shares in its public offering on June 13th. The total size of the offering was $55,000,000 based on an initial share price of $10.00. After the expiration of BEST SPAC I Acquisition’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

BEST SPAC I Acquisition Price Performance

Shares of NASDAQ BSAAU opened at $10.24 on Tuesday. BEST SPAC I Acquisition has a 52-week low of $9.99 and a 52-week high of $10.92. The company’s fifty day moving average is $10.21.

Institutional Investors Weigh In On BEST SPAC I Acquisition

A number of institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in shares of BEST SPAC I Acquisition in the 2nd quarter worth about $3,776,000. Clear Street LLC acquired a new stake in BEST SPAC I Acquisition during the 2nd quarter worth approximately $3,236,000. Hudson Bay Capital Management LP acquired a new stake in BEST SPAC I Acquisition during the 2nd quarter worth approximately $2,761,000. Radcliffe Capital Management L.P. acquired a new position in BEST SPAC I Acquisition during the second quarter valued at approximately $1,707,000. Finally, Boothbay Fund Management LLC purchased a new stake in BEST SPAC I Acquisition during the second quarter worth approximately $1,632,000.

BEST SPAC I Acquisition Company Profile

We are a blank check company incorporated in the British Virgin Islands as a business company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.