Blue Water Acquisition’s (OTCMKTS:BLUWU) lock-up period is set to end on Monday, June 14th. Blue Water Acquisition had issued 5,000,000 shares in its initial public offering on December 15th. The total size of the offering was $50,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
OTCMKTS BLUWU opened at $10.70 on Friday. The company has a 50-day simple moving average of $10.60. Blue Water Acquisition has a twelve month low of $10.12 and a twelve month high of $11.21.
Several hedge funds have recently made changes to their positions in the company. UBS Group AG lifted its holdings in Blue Water Acquisition by 3,730.3% in the first quarter. UBS Group AG now owns 18,232 shares of the company’s stock valued at $194,000 after buying an additional 17,756 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Blue Water Acquisition in the fourth quarter valued at approximately $254,000. Walleye Trading LLC acquired a new position in Blue Water Acquisition in the fourth quarter valued at approximately $311,000. Walleye Capital LLC bought a new stake in Blue Water Acquisition in the fourth quarter valued at approximately $466,000. Finally, Gabelli Funds LLC bought a new stake in Blue Water Acquisition in the fourth quarter valued at approximately $512,000.
Blue Water Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Greenwich, Connecticut.
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