ARC Group Acquisition I Corp’s Lock-Up Period To End Tomorrow (NASDAQ:ARCL)

ARC Group Acquisition I’s (NASDAQ:ARCL) lock-up period will expire on Tuesday, October 27th. ARC Group Acquisition I had issued 10,500,000 shares in its IPO on April 30th. The total size of the offering was $105,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on ARC Group Acquisition I in a research note on Monday, August 24th. They issued a “sell (e)” rating for the company. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

ARC Group Acquisition I Stock Performance

ARCL opened at $10.05 on Monday. The business has a 50 day moving average of $10.00. ARC Group Acquisition I has a 1 year low of $9.85 and a 1 year high of $10.02.

About ARC Group Acquisition I

ARC Group Acquisition I (NASDAQ: ARCL) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, share exchange, asset acquisition, reorganization or similar corporate combination.

Unlike an operating company, ARC Group Acquisition I does not manufacture products or provide services to customers in the ordinary course of business. Its principal activities are evaluating potential acquisition targets, conducting due diligence and seeking shareholder approval for a proposed transaction.

The company was established as a blank-check company and is sponsored by an affiliate of ARC Group.