Radcliffe Capital Management L.P. Purchases Shares of 300,000 Chenghe Acquisition III Co. $CHEC

Radcliffe Capital Management L.P. acquired a new position in Chenghe Acquisition III Co. (NASDAQ:CHEC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 300,000 shares of the company’s stock, valued at approximately $2,991,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Context Capital Management LLC purchased a new position in Chenghe Acquisition III in the fourth quarter valued at about $1,357,000. MMCAP International Inc. SPC acquired a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at about $1,496,000. Periscope Capital Inc. acquired a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at about $2,383,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Chenghe Acquisition III in the fourth quarter valued at about $1,248,000. Finally, K2 Principal Fund L.P. purchased a new stake in shares of Chenghe Acquisition III during the 4th quarter valued at about $805,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Chenghe Acquisition III Price Performance

NASDAQ:CHEC opened at $10.16 on Wednesday. The firm has a 50-day moving average price of $10.12. Chenghe Acquisition III Co. has a 1-year low of $9.91 and a 1-year high of $10.56.

Chenghe Acquisition III (NASDAQ:CHEC) last announced its earnings results on Wednesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter.

Chenghe Acquisition III Profile

Chenghe Acquisition III (NASDAQ: CHEC) is a special-purpose acquisition company, commonly known as a SPAC, that was formed to effect a business combination with one or more operating companies. As a blank‑check vehicle, the company’s primary business activity is identifying, negotiating and completing an acquisition, merger or other strategic combination rather than operating traditional, revenue‑generating businesses.

Like many SPACs, Chenghe Acquisition III holds funds in a trust account pending the completion of a qualifying business combination and typically offers public shareholders the option to redeem their shares if they do not approve a proposed transaction.