North Mountain Merger’s (OTCMKTS:NMMCU) quiet period will expire on Wednesday, October 28th. North Mountain Merger had issued 11,500,000 shares in its initial public offering on September 18th. The total size of the offering was $115,000,000 based on an initial share price of $10.00. During North Mountain Merger’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. 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.
Shares of NMMCU stock opened at $10.15 on Wednesday. North Mountain Merger has a one year low of $9.98 and a one year high of $10.49.
A hedge fund recently bought a new stake in North Mountain Merger stock. Mizuho Securities USA LLC purchased a new position in North Mountain Merger Corp. (OTCMKTS:NMMCU) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 84,056 shares of the company’s stock, valued at approximately $849,000.
North Mountain Merger Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus on businesses in the financial technology segment. The company was founded in 2020 and is based in New York, New York.
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