Crescent Acquisition’s (OTCMKTS:CRSAU) lock-up period will expire on Wednesday, September 4th. Crescent Acquisition had issued 25,000,000 shares in its initial public offering on March 8th. The total size of the offering was $250,000,000 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 end of the lock-up period.
Shares of OTCMKTS CRSAU remained flat at $$10.17 during mid-day trading on Wednesday. Crescent Acquisition has a 1-year low of $9.95 and a 1-year high of $10.17. The business’s 50-day moving average is $10.14.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cowen Inc. purchased a new position in shares of Crescent Acquisition during the second quarter worth about $101,000. Gamco Investors INC. ET AL bought a new position in Crescent Acquisition in the first quarter valued at $100,000. Castle Creek Arbitrage LLC purchased a new position in shares of Crescent Acquisition in the 1st quarter worth about $997,000. Walleye Trading LLC raised its holdings in shares of Crescent Acquisition by 28.9% during the 2nd quarter. Walleye Trading LLC now owns 153,148 shares of the company’s stock valued at $1,539,000 after buying an additional 34,348 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Crescent Acquisition in the first quarter worth approximately $2,000,000.
About Crescent Acquisition
Crescent Acquisition Corp. intends to acquire assets and businesses through a merger, capital stock exchange, stock purchase, reorganization, or business combination. The company was formerly known as Crescent Funding Inc and changed its name to Crescent Acquisition Corp. in October 2018. The company was founded in 2017 and is based in Los Angeles, California.
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