Newbridge Acquisition Ltd’s Lock-Up Period To Expire on July 29th (NASDAQ:NBRGU)

Newbridge Acquisition’s (NASDAQ:NBRGU) lock-up period will expire 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 the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Newbridge Acquisition Stock Performance

Shares of NBRGU opened at $10.19 on Friday. Newbridge Acquisition has a twelve month low of $9.97 and a twelve month high of $11.04. The firm has a 50 day moving average of $10.23.

Institutional Investors Weigh In On Newbridge Acquisition

An institutional investor recently bought a new stake in Newbridge Acquisition stock. Rivernorth Capital Management LLC bought a new position in Newbridge Acquisition Ltd (NASDAQ:NBRGU) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 325,000 shares of the company’s stock, valued at approximately $3,260,000.

About Newbridge Acquisition

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.