Sona Asset Management US LLC Invests $2.51 Million in GSR IV Acquisition Corp. $GSRF

Sona Asset Management US LLC bought a new stake in GSR IV Acquisition Corp. (NASDAQ:GSRF) in the first quarter, HoldingsChannel reports. The firm bought 250,000 shares of the company’s stock, valued at approximately $2,508,000.

Other hedge funds also recently made changes to their positions in the company. Glazer Capital LLC bought a new stake in shares of GSR IV Acquisition during the fourth quarter valued at approximately $15,090,000. Polar Asset Management Partners Inc. bought a new position in GSR IV Acquisition in the fourth quarter worth $11,988,000. Meteora Capital LLC purchased a new position in GSR IV Acquisition during the fourth quarter valued at $10,069,000. First Trust Capital Management L.P. purchased a new position in GSR IV Acquisition during the fourth quarter valued at $9,450,000. Finally, AQR Arbitrage LLC bought a new stake in shares of GSR IV Acquisition during the 4th quarter valued at $9,331,000.

GSR IV Acquisition Stock Up 0.1%

Shares of NASDAQ GSRF opened at $10.17 on Monday. The firm’s 50 day simple moving average is $10.16. GSR IV Acquisition Corp. has a fifty-two week low of $9.96 and a fifty-two week high of $10.20.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of GSR IV Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

GSR IV Acquisition Profile

GSR IV Acquisition Corp (NASDAQ: GSRF) is a special purpose acquisition company (SPAC) — a publicly listed blank‑check vehicle formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a SPAC, GSR IV does not operate a traditional commercial business or sell products and services; its principal activities are sourcing potential targets, negotiating a business combination and managing proceeds held in a trust account pending completion of a transaction.

The company’s typical operating functions include maintaining the funds raised in the IPO in a trust or escrow account, performing due diligence on candidate targets, structuring acquisition and financing arrangements (which may include private investment in public equity, or PIPE, commitments), and completing a de‑SPAC transaction that brings a private operating company public through the merger process.