Rivernorth Capital Management LLC Buys Shares of 350,000 JAB Acquisition Corp I $JABRU

Rivernorth Capital Management LLC acquired a new stake in shares of JAB Acquisition Corp I (NASDAQ:JABRU) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 350,000 shares of the company’s stock, valued at approximately $3,518,000.

JAB Acquisition Corp I Price Performance

Shares of JABRU opened at $10.10 on Monday. The firm’s 50-day moving average is $10.07. JAB Acquisition Corp I has a 1-year low of $9.99 and a 1-year high of $10.12.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of JAB Acquisition Corp I to a “hold” rating in a research note on Saturday, August 1st.

JAB Acquisition Corp I Profile

JAB Acquisition Corp I is a special purpose acquisition company, or SPAC, formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, or similar business combination with one or more businesses. As a blank check company, it does not operate a traditional commercial business of its own but is instead structured to raise capital and identify an acquisition target.

The company was organized to seek opportunities in industries and geographies that align with its management team’s experience and investment strategy.