Aristeia Capital L.L.C. Invests $3.86 Million in Chenghe Acquisition III Co. $CHEC

Aristeia Capital L.L.C. purchased a new position in shares of Chenghe Acquisition III Co. (NASDAQ:CHEC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 387,428 shares of the company’s stock, valued at approximately $3,863,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Chenghe Acquisition III in the 4th quarter valued at about $150,000. Royal Bank of Canada acquired a new stake in Chenghe Acquisition III during the 4th quarter worth approximately $168,000. K2 Principal Fund L.P. acquired a new stake in Chenghe Acquisition III during the 4th quarter worth approximately $805,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Chenghe Acquisition III in the fourth quarter valued at approximately $1,248,000. Finally, Context Capital Management LLC acquired a new stake in Chenghe Acquisition III in the fourth quarter valued at approximately $1,357,000.

Chenghe Acquisition III Stock Performance

Shares of CHEC opened at $10.16 on Thursday. Chenghe Acquisition III Co. has a 12-month low of $9.91 and a 12-month high of $10.56. The stock’s fifty day moving average price is $10.12.

Chenghe Acquisition III (NASDAQ:CHEC) last posted its earnings results on Wednesday, March 25th. The company reported $0.14 earnings per share (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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Chenghe Acquisition III Profile

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.