Vernal Capital Acquisition Corp.’s Lock-Up Period Set To Expire on November 2nd (NYSE:VECA)

Vernal Capital Acquisition’s (NYSE:VECA) lock-up period is set to end on Monday, November 2nd. Vernal Capital Acquisition had issued 10,000,000 shares in its initial public offering on May 6th. 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 end of the lock-up period.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Vernal Capital Acquisition from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, September 14th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has an average rating of “Sell”.

Vernal Capital Acquisition Trading Up 0.6%

VECA stock opened at $10.07 on Wednesday. The firm has a 50 day simple moving average of $10.16. Vernal Capital Acquisition has a 12 month low of $9.87 and a 12 month high of $11.01.

Vernal Capital Acquisition Company Profile

Vernal Capital Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the New York Stock Exchange under the symbol VECA. The company was formed to pursue a business combination, such as a merger, acquisition or similar transaction, with one or more private businesses.

Unlike an operating company, Vernal Capital Acquisition does not currently provide products or services to customers. Its primary activities involve identifying a suitable acquisition target, completing due diligence and negotiating a transaction that would allow the target company to become publicly traded.

The company’s public materials do not provide enough verified information to describe an operating business, geographic customer base or leadership team in detail.