Amanat Acquisition Corp.’s Lock-Up Period Will End on November 16th (NASDAQ:AMAN)

Amanat Acquisition’s (NASDAQ:AMAN) lock-up period will expire on Monday, November 16th. Amanat Acquisition had issued 7,500,000 shares in its initial public offering on May 19th. The total size of the offering was $75,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of Amanat Acquisition in a research note on Wednesday, November 4th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Amanat Acquisition Stock Down 0.1%

Shares of AMAN opened at $10.12 on Friday. The firm’s fifty day simple moving average is $10.41. Amanat Acquisition has a 12 month low of $9.98 and a 12 month high of $10.79.

Amanat Acquisition (NASDAQ:AMAN) last released its earnings results on Thursday, June 25th. The company reported ($0.03) earnings per share (EPS) for the quarter.

About Amanat Acquisition

Amanat Acquisition Corp. (NASDAQ: AMAN) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its mandate may be carried out through a merger, share exchange, asset acquisition, reorganization or similar transaction. Unlike an operating company, Amanat Acquisition Corp. does not provide products or services to customers through an established business. Its activities primarily involve raising capital through a public offering, evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating company.