Amanat Acquisition Corp.’s (NASDAQ:AMAN) Quiet Period Will Expire on June 29th

Amanat Acquisition’s (NASDAQ:AMAN) quiet period is set to end on Monday, June 29th. Amanat Acquisition had issued 7,500,000 shares in its public offering on May 19th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. During Amanat Acquisition’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Amanat Acquisition to a “hold” rating in a research note on Saturday, May 23rd.

Amanat Acquisition Stock Performance

NASDAQ AMAN opened at $10.08 on Monday. Amanat Acquisition has a twelve month low of $10.00 and a twelve month high of $10.40.

Amanat Acquisition Company Profile

Amanat Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Like other SPACs, its purpose is to identify and complete a transaction with an operating company rather than to run a traditional commercial business of its own.

The company was organized to pursue acquisition opportunities, but detailed public information about an operating business, product lineup, or end-market services is limited because its primary function is to serve as a vehicle for a future business combination.