MMCAP International Inc. SPC Acquires New Holdings in Chenghe Acquisition III Co. $CHEC

MMCAP International Inc. SPC acquired a new stake in Chenghe Acquisition III Co. (NASDAQ:CHEC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 150,000 shares of the company’s stock, valued at approximately $1,496,000.

Separately, Gladius Capital Management LP acquired a new stake in shares of Chenghe Acquisition III during the 4th quarter worth about $150,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Chenghe Acquisition III from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Chenghe Acquisition III Stock Performance

Chenghe Acquisition III stock opened at $10.11 on Wednesday. Chenghe Acquisition III Co. has a 12-month low of $9.91 and a 12-month high of $10.56. The business’s 50-day moving average price is $10.09.

Chenghe Acquisition III (NASDAQ:CHEC) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.14 earnings per share (EPS) for the quarter.

About Chenghe Acquisition III

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.