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

Newbridge Acquisition’s (NASDAQ:NBRGU) lock-up period will expire on Wednesday, July 29th. Newbridge Acquisition had issued 5,000,000 shares in its public offering on January 30th. The total size of the offering was $50,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Newbridge Acquisition Stock Down 0.1%

Shares of NBRGU stock opened at $10.24 on Wednesday. The business has a 50 day simple moving average of $10.22. Newbridge Acquisition has a fifty-two week low of $9.97 and a fifty-two week high of $11.04.

Institutional Inflows and Outflows

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) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 325,000 shares of the company’s stock, valued at approximately $3,260,000.

Newbridge Acquisition Company Profile

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.