Newbridge Acquisition Ltd’s Lock-Up Period Will End Tomorrow (NASDAQ:NBRGU)

Newbridge Acquisition’s (NASDAQ:NBRGU) lock-up period is set to end on Wednesday, July 29th. Newbridge Acquisition had issued 5,000,000 shares in its IPO on January 30th. The total size of the offering was $50,000,000 based on an initial share price of $10.00. After the end of Newbridge Acquisition’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Newbridge Acquisition Stock Performance

NASDAQ NBRGU opened at $10.19 on Tuesday. Newbridge Acquisition has a 12 month low of $9.97 and a 12 month high of $11.04. The business has a 50 day simple moving average of $10.23.

Hedge Funds Weigh In On Newbridge Acquisition

A hedge fund recently bought a new stake in Newbridge Acquisition stock. Rivernorth Capital Management LLC purchased a new stake in Newbridge Acquisition Ltd (NASDAQ:NBRGU) during the first quarter, according to its most recent filing with the SEC. The fund purchased 325,000 shares of the company’s stock, valued at approximately $3,260,000.

Newbridge Acquisition Company Profile

Newbridge Acquisition (NASDAQ: NBRGU) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, formed to raise capital through an initial public offering with the objective of effecting a merger, share exchange, asset acquisition or similar business combination. As a SPAC, its principal business activity is to identify and complete an acquisition that will allow a private operating company to become publicly listed through a business combination rather than a traditional IPO process.

The company’s securities trade as units on the Nasdaq under the ticker NBRGU, representing the SPAC vehicle prior to any separation of underlying securities or consummation of a business combination.