Futurewave Acquisition Corp’s (NASDAQ:FWACU) Quiet Period Set To Expire Tomorrow

Futurewave Acquisition’s (NASDAQ:FWACU) quiet period is set to expire on Tuesday, August 4th. Futurewave Acquisition had issued 7,500,000 shares in its IPO on June 25th. 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, underwriters and any insiders involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Futurewave Acquisition to a “hold” rating in a report on Saturday, July 4th.

Futurewave Acquisition Price Performance

FWACU opened at $10.07 on Monday. Futurewave Acquisition has a 12-month low of $10.00 and a 12-month high of $10.15.

About Futurewave Acquisition

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Companies like Futurewave Acquisition are typically created to help identify and combine with an operating business, rather than to run a traditional commercial operation themselves.

As a blank check company, Futurewave Acquisition does not provide a broad portfolio of products or services in the conventional sense.