MMCAP International Inc. SPC Decreases Stake in Launch One Acquisition Corp. (NASDAQ:LPAA)

Key Points

• MMCAP International Inc. SPC has reduced its stake in Launch One Acquisition Corp. by 25.3%, selling 500,000 shares during the first quarter, resulting in ownership of 1,480,000 shares.
• Launch One Acquisition Corp. currently constitutes approximately 2.6% of MMCAP's portfolio, ranking as its 12th largest position with an estimated value of $15,111,000.
• Several institutional investors made new purchases of Launch One Acquisition shares in the fourth quarter, including Bulldog Investors LLP, which acquired shares worth $5,661,000.

MMCAP International Inc. SPC lessened its holdings in Launch One Acquisition Corp. (NASDAQ:LPAA - Free Report) by 25.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,480,000 shares of the company's stock after selling 500,000 shares during the period. Launch One Acquisition makes up approximately 2.6% of MMCAP International Inc. SPC's portfolio, making the stock its 12th biggest holding. MMCAP International Inc. SPC owned 5.15% of Launch One Acquisition worth $15,111,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of Launch One Acquisition during the fourth quarter valued at about $161,000. Boothbay Fund Management LLC bought a new position in shares of Launch One Acquisition in the fourth quarter worth $248,000. Toronto Dominion Bank purchased a new stake in shares of Launch One Acquisition in the fourth quarter worth $907,000. Polar Asset Management Partners Inc. bought a new stake in Launch One Acquisition during the fourth quarter valued at $1,507,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Launch One Acquisition during the fourth quarter worth about $1,507,000.

Launch One Acquisition Stock Performance

Shares of NASDAQ:LPAA traded up $0.02 during trading on Thursday, reaching $10.42. 150,583 shares of the company traded hands, compared to its average volume of 101,027. Launch One Acquisition Corp. has a 52-week low of $9.66 and a 52-week high of $10.70. The business's fifty day moving average is $10.42 and its 200-day moving average is $10.29.

Launch One Acquisition Profile

Launch One Acquisition Corp. is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Launch One Acquisition Corp. is based in New York.