Future Money Acquisition Corporation’s Lock-Up Period To End on September 23rd (NASDAQ:FMAC)

Future Money Acquisition’s (NASDAQ:FMAC) lock-up period will end on Wednesday, September 23rd. Future Money Acquisition had issued 10,000,000 shares in its public offering on March 27th. The total size of the offering was $100,000,000 based on an initial share price of $10.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on Future Money Acquisition in a report on Wednesday, August 12th. They issued a “sell (e)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Future Money Acquisition Trading Up 0.3%

NASDAQ FMAC opened at $10.09 on Friday. The firm has a fifty day moving average of $10.04. Future Money Acquisition has a 12 month low of $9.90 and a 12 month high of $10.09.

Institutional Trading of Future Money Acquisition

A hedge fund recently bought a new stake in Future Money Acquisition stock. Rivernorth Capital Management LLC bought a new stake in Future Money Acquisition Corporation (NASDAQ:FMAC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 390,000 shares of the company’s stock, valued at approximately $3,916,000. Rivernorth Capital Management LLC owned about 0.75% of Future Money Acquisition as of its most recent filing with the Securities and Exchange Commission. 73.56% of the stock is currently owned by hedge funds and other institutional investors.

About Future Money Acquisition

Future Money Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Unlike an operating business, the company does not manufacture products or provide established commercial services of its own.

Its stated investment focus has centered on opportunities in the financial services and financial technology sectors. The company’s activities have primarily involved raising capital through a public offering, evaluating potential acquisition targets, and pursuing a merger or similar transaction intended to take a private operating company public.

Because Future Money Acquisition Corp.