Lightwave Acquisition’s (NASDAQ:LWACU – Get Free Report) lock-up period is set to expire on Monday, December 22nd. Lightwave Acquisition had issued 18,750,000 shares in its public offering on June 25th. The total size of the offering was $187,500,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Lightwave Acquisition Price Performance
Shares of NASDAQ:LWACU opened at $10.20 on Friday. The firm’s fifty day moving average is $10.18. Lightwave Acquisition has a 1-year low of $10.00 and a 1-year high of $10.50.
Institutional Investors Weigh In On Lightwave Acquisition
Several institutional investors and hedge funds have recently made changes to their positions in LWACU. Clear Street Group Inc. purchased a new position in Lightwave Acquisition in the 3rd quarter worth approximately $3,002,000. BCK Capital Management LP increased its holdings in shares of Lightwave Acquisition by 31.2% in the 3rd quarter. BCK Capital Management LP now owns 68,875 shares of the company’s stock worth $692,000 after purchasing an additional 16,375 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Lightwave Acquisition in the second quarter worth $2,502,000. Radcliffe Capital Management L.P. purchased a new position in shares of Lightwave Acquisition in the second quarter worth $3,870,000. Finally, Moore Capital Management LP purchased a new stake in shares of Lightwave Acquisition during the second quarter valued at $4,522,000.
Lightwave Acquisition Company Profile
Lightwave Acquisition Corp (NASDAQ: LWACU) is a special purpose acquisition company incorporated in Delaware in March 2021. Formed as a blank check company, its primary purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company’s management team brings experience from the technology, telecommunications and financial services sectors.
In May 2021, Lightwave Acquisition completed its initial public offering on the Nasdaq Capital Market, raising gross proceeds that have been placed in a trust account pending deployment into a qualified business combination.
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