Starry Sea Acquisition Corp’s Lock-Up Period Set To Expire on February 4th (NASDAQ:SSEAU)

Starry Sea Acquisition’s (NASDAQ:SSEAU) lock-up period is set to expire on Wednesday, February 4th. Starry Sea Acquisition had issued 5,000,000 shares in its IPO on August 8th. The total size of the offering was $50,000,000 based on an initial share price of $10.00. After the expiration of Starry Sea Acquisition’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Starry Sea Acquisition Stock Performance

NASDAQ SSEAU opened at $10.22 on Wednesday. Starry Sea Acquisition has a twelve month low of $10.03 and a twelve month high of $11.11. The firm’s fifty day moving average price is $10.20.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC acquired a new stake in Starry Sea Acquisition during the 3rd quarter worth approximately $2,998,000. JPMorgan Chase & Co. acquired a new position in Starry Sea Acquisition in the 3rd quarter valued at approximately $243,000. Hudson Bay Capital Management LP bought a new position in shares of Starry Sea Acquisition during the third quarter valued at $2,535,000. Polar Asset Management Partners Inc. bought a new position in shares of Starry Sea Acquisition during the third quarter valued at $2,535,000. Finally, Heights Capital Management Inc. acquired a new position in shares of Starry Sea Acquisition during the third quarter worth $1,014,000.

About Starry Sea Acquisition

Starry Sea Acquisition Corp. (NASDAQ: SSEAU) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a business combination with one or more operating businesses. As a blank‑check vehicle, the company’s principal activity is to identify, evaluate and negotiate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination that would result in a change of the company’s purpose.

Like other SPACs, funds raised by Starry Sea Acquisition are typically held in a trust account while the management team pursues potential targets.