Shares of Galata Acquisition Corp. II (NASDAQ:LATAW – Get Free Report) were down 13.7% on Monday . The company traded as low as $0.2926 and last traded at $0.2590. 46,522 shares were traded during trading, an increase of 141% from the average daily volume of 19,271 shares. The stock had previously closed at $0.30.
Galata Acquisition Corp. II Stock Performance
The firm has a 50-day moving average of $0.34.
About Galata Acquisition Corp. II
Galata Acquisition Corp. II (NASDAQ: LATAW) is a publicly listed special purpose acquisition company (SPAC). As a blank‑check vehicle, the company’s primary purpose is to identify, negotiate and complete a business combination with one or more operating businesses. Galata Acquisition Corp. II is listed on the NASDAQ and, like other SPACs, operates as an acquisition platform rather than as an operating company that manufactures products or delivers ongoing services.
The company’s activities typically include sourcing potential target companies, performing due diligence, structuring a business combination and obtaining shareholder approval for a proposed transaction.
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