Proem Acquisition Corp I’s (NASDAQ:PAAC) Lock-Up Period Will Expire on August 11th

Proem Acquisition Corp I’s (NASDAQ:PAAC) lock-up period will expire on Tuesday, August 11th. Proem Acquisition Corp I had issued 13,000,000 shares in its initial public offering on February 12th. The total size of the offering was $130,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on shares of Proem Acquisition Corp I in a research report on Tuesday, June 30th. They set a “sell (e)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Proem Acquisition Corp I Stock Performance

Shares of PAAC opened at $9.96 on Thursday. The stock’s 50-day moving average is $9.94. Proem Acquisition Corp I has a 12 month low of $9.83 and a 12 month high of $10.15.

About Proem Acquisition Corp I

Proem Acquisition Corp I is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.