RRE Ventures Acquisition Corp.’s Lock-Up Period Will Expire on October 27th (NASDAQ:RREV)

RRE Ventures Acquisition’s (NASDAQ:RREV) lock-up period is set to end on Tuesday, October 27th. RRE Ventures Acquisition had issued 25,000,000 shares in its public offering on April 30th. The total size of the offering was $250,000,000 based on an initial share price of $10.00. After the expiration of RRE Ventures Acquisition’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on shares of RRE Ventures Acquisition in a report on Tuesday, August 18th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, RRE Ventures Acquisition presently has an average rating of “Sell”.

RRE Ventures Acquisition Price Performance

Shares of RREV stock opened at $9.90 on Friday. The business’s 50-day moving average price is $9.92. RRE Ventures Acquisition has a 12-month low of $9.86 and a 12-month high of $9.94.

Institutional Trading of RRE Ventures Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Governors Lane LP purchased a new stake in RRE Ventures Acquisition during the 2nd quarter valued at $2,468,000. Moore Capital Management LP bought a new position in shares of RRE Ventures Acquisition during the second quarter valued at $2,468,000. Finally, Rivernorth Capital Management LLC purchased a new stake in shares of RRE Ventures Acquisition during the second quarter valued at $993,000.

About RRE Ventures Acquisition

RRE Ventures Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Its potential transaction could take the form of a merger, stock purchase, asset acquisition, reorganization or similar combination.

The company was established as an acquisition vehicle rather than an operating business. It does not manufacture products or provide services to customers, and its activities are primarily focused on evaluating potential target companies, negotiating a transaction and completing the related regulatory and shareholder approval processes.

RRE Ventures Acquisition Corp.