Indigo Acquisition Corp. (NASDAQ: INACU) will see its lock-up period expire on December 29, 2023. This milestone comes after the company issued 10,000,000 shares during its initial public offering (IPO) on July 1, 2023, raising a total of $100,000,000 at an initial price of $10.00 per share. Following the expiration of this lock-up, major shareholders and insiders will have the opportunity to sell their shares, potentially impacting the stock’s trading dynamics.
With the lock-up expiration on the horizon, shares of Indigo Acquisition opened at $10.14 on Friday. The stock has exhibited a 50-day moving average of $10.19, with a 12-month low of $10.01 and a 12-month high of $10.40.
Institutional Investment Activity
Recent reports indicate that institutional investors have actively adjusted their positions in Indigo Acquisition. Notably, Calamos Advisors LLC acquired a new stake valued at approximately $2,528,000 during the third quarter. Other significant purchases included JPMorgan Chase & Co., which invested around $253,000, and BCK Capital Management LP, which added a stake worth about $870,000. Additionally, Yakira Capital Management Inc. and Schonfeld Strategic Advisors LLC made new investments valued at $272,000 and $202,000, respectively.
These changes suggest a growing interest from institutional players, which could influence the stock’s trajectory as the lock-up period concludes.
Company Overview
Founded in Delaware, Indigo Acquisition Corp. operates as a blank check company listed on the Nasdaq under the ticker INACU. The firm is designed to execute a business combination with one or more target businesses, which may include mergers, capital stock exchanges, or asset acquisitions. Although Indigo Acquisition has not yet finalized a definitive business combination, it aims to explore opportunities in sectors related to aerospace, aviation, and similar industries.
As investors await the end of the lock-up period, the market will closely monitor the stock’s performance and any potential announcements from the company regarding future business plans. The upcoming days may prove crucial for both current shareholders and potential investors looking to capitalize on the evolving landscape of Indigo Acquisition Corp.
