Research Alliance Corporation III’s (NASDAQ:RACC) Lock-Up Period To Expire on November 16th

Research Alliance Corporation III’s (NASDAQ:RACC) lock-up period will end on Monday, November 16th. Research Alliance Corporation III had issued 7,500,000 shares in its IPO on May 20th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. After the end of Research Alliance Corporation III’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Research Alliance Corporation III from a “sell (e)” rating to a “sell (e-)” rating in a research report on Monday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Research Alliance Corporation III currently has a consensus rating of “Sell”.

Research Alliance Corporation III Stock Down 0.3%

NASDAQ RACC opened at $10.12 on Friday. Research Alliance Corporation III has a 12 month low of $9.62 and a 12 month high of $33.50. The firm has a 50-day moving average of $10.59.

Research Alliance Corporation III (NASDAQ:RACC) last issued its earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share (EPS) for the quarter.

About Research Alliance Corporation III

Research Alliance Corporation III is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Such transactions may take the form of a merger, stock purchase, or similar acquisition that enables a target company to become publicly traded. Unlike an operating company, Research Alliance Corporation III does not appear to have established commercial products, services, or significant ongoing business operations of its own.