Future Money Acquisition Corporation’s (NASDAQ:FMAC) Lock-Up Period To End on September 23rd

Future Money Acquisition’s (NASDAQ:FMAC) lock-up period is set to expire on Wednesday, September 23rd. Future Money Acquisition had issued 10,000,000 shares in its IPO on March 27th. The total size of the offering was $100,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on Future Money Acquisition in a research report on Wednesday, August 12th. They issued a “sell (e)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Future Money Acquisition Stock Down 0.1%

Shares of NASDAQ FMAC opened at $10.08 on Friday. The firm has a 50-day simple moving average of $10.04. Future Money Acquisition has a 52 week low of $9.90 and a 52 week high of $10.09.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Future Money Acquisition stock. Rivernorth Capital Management LLC bought a new position in shares of Future Money Acquisition Corporation (NASDAQ:FMAC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 390,000 shares of the company’s stock, valued at approximately $3,916,000. Rivernorth Capital Management LLC owned about 0.75% of Future Money Acquisition at the end of the most recent reporting period. 73.56% of the stock is owned by institutional investors.

About Future Money Acquisition

Future Money Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Unlike an operating business, the company does not manufacture products or provide established commercial services of its own.

Its stated investment focus has centered on opportunities in the financial services and financial technology sectors. The company’s activities have primarily involved raising capital through a public offering, evaluating potential acquisition targets, and pursuing a merger or similar transaction intended to take a private operating company public.

Because Future Money Acquisition Corp.