Malacca Straits Acquisition’s (OTCMKTS:MLACU – Get Free Report) quiet period will end on Wednesday, January 22nd. Malacca Straits Acquisition had issued 21,000,000 shares in its initial public offering on December 13th. The total size of the offering was $210,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end 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.
Malacca Straits Acquisition Price Performance
Shares of MLACU opened at $10.02 on Wednesday. The business’s 50 day moving average is $10.33 and its two-hundred day moving average is $10.51. Malacca Straits Acquisition has a 52-week low of $10.00 and a 52-week high of $10.05.
Institutional Trading of Malacca Straits Acquisition
An institutional investor recently bought a new position in Malacca Straits Acquisition stock. Tuttle Capital Management LLC purchased a new position in Malacca Straits Acquisition Company Limited (OTCMKTS:MLACU – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 40,000 shares of the company’s stock, valued at approximately $401,000. Malacca Straits Acquisition comprises about 2.4% of Tuttle Capital Management LLC’s holdings, making the stock its 23rd biggest position.
Malacca Straits Acquisition Company Profile
Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries.
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