Southern Cross Acquisition I Corp.’s Quiet Period Will Expire on August 31st (NASDAQ:NCOOU)

Southern Cross Acquisition I’s (NASDAQ:NCOOU) quiet period is set to expire on Monday, August 31st. Southern Cross Acquisition I had issued 10,000,000 shares in its initial public offering on July 21st. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During Southern Cross Acquisition I’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Southern Cross Acquisition I Trading Down 0.6%

NASDAQ NCOOU opened at $10.04 on Wednesday. Southern Cross Acquisition I has a 52 week low of $9.99 and a 52 week high of $10.82.

Southern Cross Acquisition I is a blank check company, also known as a special purpose acquisition company (SPAC), formed to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

As a SPAC, the company does not have ongoing commercial operations of its own and is focused on identifying and completing an initial acquisition opportunity. Its business strategy is typically to target companies across a range of industries and geographies, depending on the terms of its formation documents and the expertise of its management team.

Publicly available details about Southern Cross Acquisition I’s specific target sector, historical operating background, and broader geographic focus are limited.