Research Alliance Corporation III’s Lock-Up Period Will Expire Tomorrow (NASDAQ:RACC)

Research Alliance Corporation III’s (NASDAQ:RACC) lock-up period is set to end on Monday, November 16th. Research Alliance Corporation III had issued 7,500,000 shares in its IPO on May 20th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Research Alliance Corporation III from a “sell (e)” rating to a “sell (e-)” rating in a research report on Monday, November 9th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Research Alliance Corporation III Stock Performance

RACC stock opened at $10.12 on Friday. The firm’s 50 day moving average price is $10.54. Research Alliance Corporation III has a one year low of $9.62 and a one year high of $33.50.

Research Alliance Corporation III (NASDAQ:RACC) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter.

About Research Alliance Corporation III

Research Alliance Corporation III is a special purpose acquisition company (SPAC), not an operating business with its own products or services. It was formed to pursue a merger, asset acquisition, or similar business combination with one or more companies. As a SPAC, its business activities are centered on identifying and completing a transaction with a target company. Research Alliance Corporation III’s own public filings are the best source for details about its intended industry focus and any announced transaction.