Rivernorth Capital Management LLC Makes New $3.26 Million Investment in Newbridge Acquisition Ltd $NBRGU

Rivernorth Capital Management LLC bought a new stake in shares of Newbridge Acquisition Ltd (NASDAQ:NBRGU) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 325,000 shares of the company’s stock, valued at approximately $3,260,000.

Newbridge Acquisition Stock Performance

NBRGU stock opened at $10.15 on Wednesday. Newbridge Acquisition Ltd has a 52-week low of $9.97 and a 52-week high of $11.04. The stock’s 50-day moving average price is $10.23.

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.