K2 Principal Fund L.P. Acquires New Shares in Chenghe Acquisition III Co. $CHEC

K2 Principal Fund L.P. acquired a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,760 shares of the company’s stock, valued at approximately $805,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new position in Chenghe Acquisition III in the fourth quarter valued at approximately $150,000. Context Capital Management LLC acquired a new position in Chenghe Acquisition III during the fourth quarter worth $1,357,000. MMCAP International Inc. SPC acquired a new position in Chenghe Acquisition III during the fourth quarter worth $1,496,000. Mint Tower Capital Management B.V. acquired a new position in Chenghe Acquisition III during the fourth quarter worth $1,496,000. Finally, Clear Street Group Inc. acquired a new position in Chenghe Acquisition III during the fourth quarter worth $1,638,000.

Chenghe Acquisition III Stock Performance

NASDAQ:CHEC opened at $10.16 on Friday. The stock’s fifty day moving average price is $10.11. Chenghe Acquisition III Co. has a 52 week low of $9.91 and a 52 week high of $10.56.

Chenghe Acquisition III (NASDAQ:CHEC) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.14 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

About Chenghe Acquisition III

Chenghe Acquisition III (NASDAQ: CHEC) is a special-purpose acquisition company, commonly known as a SPAC, that was formed to effect a business combination with one or more operating companies. As a blank?check vehicle, the company’s primary business activity is identifying, negotiating and completing an acquisition, merger or other strategic combination rather than operating traditional, revenue?generating businesses.

Like many SPACs, Chenghe Acquisition III holds funds in a trust account pending the completion of a qualifying business combination and typically offers public shareholders the option to redeem their shares if they do not approve a proposed transaction.