Periscope Capital Inc. Invests $3.68 Million in GSR IV Acquisition Corp. $GSRF

Periscope Capital Inc. purchased a new position in GSR IV Acquisition Corp. (NASDAQ:GSRF) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 368,589 shares of the company’s stock, valued at approximately $3,682,000.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on shares of GSR IV Acquisition in a research report on Thursday, February 5th. They issued a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GSR IV Acquisition presently has an average rating of “Sell”.

GSR IV Acquisition Stock Performance

Shares of NASDAQ:GSRF opened at $10.16 on Friday. The firm has a 50-day moving average price of $10.08. GSR IV Acquisition Corp. has a fifty-two week low of $9.96 and a fifty-two week high of $10.20.

GSR IV Acquisition Profile

GSR IV Acquisition Corp (NASDAQ: GSRF) is a special purpose acquisition company (SPAC) — a publicly listed blank‑check vehicle formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a SPAC, GSR IV does not operate a traditional commercial business or sell products and services; its principal activities are sourcing potential targets, negotiating a business combination and managing proceeds held in a trust account pending completion of a transaction.

The company’s typical operating functions include maintaining the funds raised in the IPO in a trust or escrow account, performing due diligence on candidate targets, structuring acquisition and financing arrangements (which may include private investment in public equity, or PIPE, commitments), and completing a de‑SPAC transaction that brings a private operating company public through the merger process.