Proem Acquisition Corp I’s Lock-Up Period Set To Expire on August 11th (NASDAQ:PAAC)

Proem Acquisition Corp I’s (NASDAQ:PAAC) lock-up period will end on Tuesday, August 11th. Proem Acquisition Corp I had issued 13,000,000 shares in its initial public offering on February 12th. The total size of the offering was $130,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of Proem Acquisition Corp I in a research note on Tuesday, June 30th. They set a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Proem Acquisition Corp I presently has an average rating of “Sell”.

Proem Acquisition Corp I Price Performance

Shares of NASDAQ PAAC opened at $9.95 on Friday. Proem Acquisition Corp I has a 12-month low of $9.83 and a 12-month high of $10.15. The business’s 50 day simple moving average is $9.94.

About Proem Acquisition Corp I

Proem Acquisition Corp I is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.