Malacca Straits Acquisition Company Limited’s (OTCMKTS:MLACU) Lock-Up Period To Expire on June 11th

Malacca Straits Acquisition’s (OTCMKTS:MLACU) lock-up period is set to expire on Wednesday, June 11th. Malacca Straits Acquisition had issued 21,000,000 shares in its public offering on December 13th. The total size of the offering was $210,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Malacca Straits Acquisition Price Performance

MLACU stock opened at $10.30 on Friday. The business’s fifty day moving average is $10.31 and its 200-day moving average is $10.24. Malacca Straits Acquisition has a twelve month low of $10.00 and a twelve month high of $10.50.

Hedge Funds Weigh In On Malacca Straits Acquisition

A number of hedge funds have recently added to or reduced their stakes in MLACU. Wealthspring Capital LLC bought a new position in Malacca Straits Acquisition in the 4th quarter valued at about $119,000. Harraden Circle Investments LLC bought a new position in Malacca Straits Acquisition in the fourth quarter valued at approximately $175,000. Rangeley Capital LLC bought a new position in Malacca Straits Acquisition in the fourth quarter valued at approximately $953,000. Periscope Capital Inc. bought a new position in shares of Malacca Straits Acquisition in the 4th quarter valued at $1,003,000. Finally, Mint Tower Capital Management B.V. bought a new position in shares of Malacca Straits Acquisition in the 4th quarter valued at $1,003,000.

Malacca Straits Acquisition Company Profile

Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries.