Healthcare of Ontario Pension Plan Trust Fund Invests $5 Million in Galata Acquisition Corp. II $LATA

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 499,998 shares of Galata Acquisition Corp. II, worth approximately $5 million, giving it a 2.17% stake.
• Several other institutional investors, including Virtu Financial, Royal Bank of Canada and ABC Arbitrage, also recently initiated positions in the SPAC.
• Galata shares opened at $10.12 and remain near their 12-month range, while Weiss Ratings initiated coverage with a “sell” rating; the stock has an overall “Sell” consensus.

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Galata Acquisition Corp. II (NASDAQ:LATA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 499,998 shares of the company's stock, valued at approximately $4,995,000. Healthcare of Ontario Pension Plan Trust Fund owned 2.17% of Galata Acquisition Corp. II as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Condor Capital Management purchased a new stake in Galata Acquisition Corp. II in the fourth quarter worth $140,000. Deltec Asset Management LLC purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth about $149,000. ABC Arbitrage SA purchased a new position in Galata Acquisition Corp. II in the 4th quarter worth about $199,000. Royal Bank of Canada bought a new stake in Galata Acquisition Corp. II during the 4th quarter valued at about $225,000. Finally, Virtu Financial LLC bought a new stake in Galata Acquisition Corp. II during the 4th quarter valued at about $320,000.

Galata Acquisition Corp. II Price Performance

Shares of NASDAQ LATA opened at $10.12 on Thursday. Galata Acquisition Corp. II has a twelve month low of $9.91 and a twelve month high of $10.20. The firm's fifty day moving average price is $10.10.

Analysts Set New Price Targets

Separately, Weiss Ratings assumed coverage on shares of Galata Acquisition Corp. II in a research note on Tuesday, May 26th. They issued a "sell (e+)" rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Galata Acquisition Corp. II currently has an average rating of "Sell".

About Galata Acquisition Corp. II

Galata Acquisition Corp. II NASDAQ: LATA is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm's primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.

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