ARC Group Acquisition I Corp’s (NASDAQ:ARCL) Lock-Up Period Will End on October 27th

ARC Group Acquisition I’s (NASDAQ:ARCL) lock-up period will expire on Tuesday, October 27th. ARC Group Acquisition I had issued 10,500,000 shares in its IPO on April 30th. The total size of the offering was $105,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on ARC Group Acquisition I in a report on Monday, August 24th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, ARC Group Acquisition I presently has an average rating of “Sell”.

ARC Group Acquisition I Stock Performance

ARCL stock opened at $10.05 on Thursday. ARC Group Acquisition I has a 52 week low of $9.85 and a 52 week high of $10.02. The stock’s 50-day moving average is $9.99.

About ARC Group Acquisition I

ARC Group Acquisition I (NASDAQ: ARCL) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, share exchange, asset acquisition, reorganization or similar corporate combination.

Unlike an operating company, ARC Group Acquisition I does not manufacture products or provide services to customers in the ordinary course of business. Its principal activities are evaluating potential acquisition targets, conducting due diligence and seeking shareholder approval for a proposed transaction.

The company was established as a blank-check company and is sponsored by an affiliate of ARC Group.