Sona Asset Management US LLC Invests $1.41 Million in Galata Acquisition Corp. II $LATA

Key Points

• Sona Asset Management US LLC acquired 141,207 shares of Galata Acquisition Corp. II worth approximately $1.41 million, representing a 0.61% stake.
• Several institutional investors also initiated positions in the SPAC during the fourth quarter, including Adage Capital Partners, Picton Mahoney Asset Management, and Alberta Investment Management.
• Weiss Ratings began coverage with a “sell (e+)” rating, giving Galata Acquisition Corp. II a consensus “Sell” rating. The stock opened at $10.12, near its 50-day average of $10.10.

Sona Asset Management US LLC acquired a new stake in shares of Galata Acquisition Corp. II (NASDAQ:LATA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 141,207 shares of the company's stock, valued at approximately $1,411,000. Sona Asset Management US LLC owned 0.61% of Galata Acquisition Corp. II at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. bought a new position in Galata Acquisition Corp. II in the 4th quarter worth $13,446,000. Picton Mahoney Asset Management bought a new stake in Galata Acquisition Corp. II during the fourth quarter valued at about $9,960,000. Alberta Investment Management Corp bought a new stake in Galata Acquisition Corp. II during the fourth quarter valued at about $7,221,000. AQR Arbitrage LLC purchased a new position in shares of Galata Acquisition Corp. II in the fourth quarter valued at about $6,747,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of Galata Acquisition Corp. II in the fourth quarter valued at about $5,976,000.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on Galata Acquisition Corp. II in a report on Tuesday, May 26th. They issued a "sell (e+)" rating on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Galata Acquisition Corp. II Price Performance

LATA opened at $10.12 on Monday. The company's fifty day moving average is $10.10. Galata Acquisition Corp. II has a fifty-two week low of $9.91 and a fifty-two week high of $10.20.

Galata Acquisition Corp. II Company Profile

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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