Periscope Capital Inc. Takes Position in Galata Acquisition Corp. II $LATA

Periscope Capital Inc. purchased a new stake in Galata Acquisition Corp. II (NASDAQ:LATA) in the fourth quarter, HoldingsChannel reports. The firm purchased 414,989 shares of the company’s stock, valued at approximately $4,125,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealthspring Capital LLC bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $3,195,000. MMCAP International Inc. SPC bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $996,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $3,976,000. Condor Capital Management bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $140,000. Finally, ABC Arbitrage SA bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $199,000.

Galata Acquisition Corp. II Price Performance

NASDAQ LATA opened at $10.11 on Friday. The business’s 50 day simple moving average is $10.03. Galata Acquisition Corp. II has a 52-week low of $9.91 and a 52-week high of $10.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings assumed coverage on Galata Acquisition Corp. II in a research note on Tuesday. They issued a “sell (e+)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Galata Acquisition Corp. II currently has an average rating of “Sell”.

Galata Acquisition Corp. II Company Profile

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.