Southern Cross Acquisition II Corp.’s Quiet Period To Expire on October 5th (NASDAQ:SCATU)

Southern Cross Acquisition II’s (NASDAQ:SCATU) quiet period will end on Monday, October 5th. Southern Cross Acquisition II had issued 7,500,000 shares in its public offering on August 26th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Southern Cross Acquisition II Price Performance

Southern Cross Acquisition II stock opened at $10.04 on Wednesday. Southern Cross Acquisition II has a 12-month low of $9.99 and a 12-month high of $11.00.

About Southern Cross Acquisition II

Southern Cross Acquisition II is a blank-check company, also known as a special purpose acquisition company (SPAC), whose publicly traded units are listed on the Nasdaq under the symbol SCATU. The company was formed to raise capital through an initial public offering and place those funds in a trust account while it searches for a business combination.

Southern Cross Acquisition II does not operate a conventional commercial business and does not currently offer products or services to customers.