Glenfarne Merger’s (NASDAQ:GGMCU) lock-up period is set to expire on Wednesday, September 15th. Glenfarne Merger had issued 25,000,000 shares in its IPO on March 19th. The total size of the offering was $250,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Shares of NASDAQ GGMCU opened at $10.00 on Wednesday. Glenfarne Merger has a 12 month low of $8.88 and a 12 month high of $10.14. The business’s 50-day simple moving average is $9.95.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parallax Volatility Advisers L.P. acquired a new position in Glenfarne Merger during the second quarter worth about $149,000. Boothbay Fund Management LLC acquired a new position in Glenfarne Merger during the second quarter worth about $148,000. Periscope Capital Inc. acquired a new position in shares of Glenfarne Merger in the second quarter valued at approximately $9,375,000. Basso Capital Management L.P. acquired a new position in shares of Glenfarne Merger in the second quarter valued at approximately $3,582,000. Finally, Shaolin Capital Management LLC increased its stake in shares of Glenfarne Merger by 35.4% in the second quarter. Shaolin Capital Management LLC now owns 1,692,806 shares of the company’s stock valued at $16,903,000 after buying an additional 442,806 shares during the period.
Glenfarne Merger Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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