East West Ave Acquisition Corp.’s (NASDAQ:EWAVU) Quiet Period Set To End on September 9th

East West Ave Acquisition’s (NASDAQ:EWAVU) quiet period will end on Wednesday, September 9th. East West Ave Acquisition had issued 10,000,000 shares in its IPO on July 31st. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of East West Ave Acquisition to a “hold” rating in a research note on Saturday, August 15th.

East West Ave Acquisition Stock Up 0.0%

NASDAQ EWAVU opened at $10.04 on Friday. East West Ave Acquisition has a fifty-two week low of $9.91 and a fifty-two week high of $10.40.

Insider Buying and Selling

In related news, insider Space Summit Capital Llc sold 90,469 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $9.94, for a total transaction of $899,261.86. Following the sale, the insider directly owned 996,531 shares of the company’s stock, valued at $9,905,518.14. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

About East West Ave Acquisition

East West Ave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies.

The company does not operate a commercial business or offer products and services of its own. Its activities are focused on evaluating potential merger, acquisition, capital stock exchange, asset acquisition, reorganization or similar transactions.

East West Ave Acquisition Corp.’s securities include publicly traded units under the NASDAQ symbol EWAVU.