Everest Consolidator Acquisition Co.'s (OTCMKTS:MNTN) Quiet Period Will End on July 1st

Everest Consolidator Acquisition's (OTCMKTS:MNTN - Get Free Report) quiet period is set to expire on Tuesday, July 1st. Everest Consolidator Acquisition had issued 11,700,000 shares in its public offering on May 22nd. The total size of the offering was $187,200,000 based on an initial share price of $16.00. During Everest Consolidator Acquisition's quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end 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.

Everest Consolidator Acquisition Price Performance

MNTN traded down $1.27 during midday trading on Friday, hitting $22.01. 1,056,164 shares of the company traded hands, compared to its average volume of 776,668. Everest Consolidator Acquisition has a 52 week low of $18.25 and a 52 week high of $32.49. The company's 50-day moving average is $12.91 and its 200 day moving average is $10.77.

Insider Transactions at Everest Consolidator Acquisition

In other Everest Consolidator Acquisition news, COO Christopher Lee Innes sold 176,933 shares of Everest Consolidator Acquisition stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $2,830,928.00. Following the sale, the chief operating officer now owns 299,333 shares of the company's stock, valued at $4,789,328. The trade was a 37.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 2,594,665 shares of company stock valued at $41,514,640 over the last quarter. 60.30% of the stock is currently owned by company insiders.

Everest Consolidator Acquisition Company Profile

Everest Consolidator Acquisition Corporation does not have significant operations. The company intends to a effect merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or entities. It focuses on identifying businesses in the financial services sector.