East West Ave Acquisition Corp.’s Quiet Period Will End on September 9th (NASDAQ:EWAVU)

East West Ave Acquisition’s (NASDAQ:EWAVU) quiet period is set to expire on Wednesday, September 9th. East West Ave Acquisition had issued 10,000,000 shares in its public offering on July 31st. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded East West Ave Acquisition to a “hold” rating in a research note on Saturday, August 15th.

East West Ave Acquisition Trading Down 0.1%

NASDAQ:EWAVU opened at $10.01 on Friday. East West Ave Acquisition has a 52 week low of $9.91 and a 52 week high of $10.40.

Insider Activity at East West Ave Acquisition

In related news, insider Space Summit Capital Llc sold 90,469 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $9.94, for a total transaction of $899,261.86. Following the completion of the sale, the insider directly owned 996,531 shares of the company’s stock, valued at approximately $9,905,518.14. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

About East West Ave Acquisition

East West Ave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies.

The company does not operate a commercial business or offer products and services of its own. Its activities are focused on evaluating potential merger, acquisition, capital stock exchange, asset acquisition, reorganization or similar transactions.

East West Ave Acquisition Corp.’s securities include publicly traded units under the NASDAQ symbol EWAVU.