Sona Asset Management US LLC Makes New Investment in GSR IV Acquisition Corp. $GSRF

Key Points

• Sona Asset Management US LLC acquired 250,000 shares of GSR IV Acquisition Corp. valued at approximately $2.5 million, representing a 0.85% stake.
• Several other institutional investors, including Virtu Financial, StoneX Group, Boothbay Fund Management and Clear Street Group, also initiated positions in the SPAC during the fourth quarter.
• GSRF shares opened at $10.17 and remain near their 12-month range of $9.96 to $10.20, while the stock carries an overall “Sell” rating from analysts.

Sona Asset Management US LLC acquired a new stake in GSR IV Acquisition Corp. (NASDAQ:GSRF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 250,000 shares of the company's stock, valued at approximately $2,508,000. Sona Asset Management US LLC owned 0.85% of GSR IV Acquisition at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bulldog Investors LLP purchased a new stake in shares of GSR IV Acquisition during the fourth quarter worth about $114,000. Virtu Financial LLC purchased a new position in GSR IV Acquisition during the 4th quarter valued at about $967,000. StoneX Group Inc. bought a new position in GSR IV Acquisition during the 4th quarter valued at approximately $1,324,000. Boothbay Fund Management LLC bought a new position in GSR IV Acquisition during the 4th quarter valued at approximately $1,469,000. Finally, Clear Street Group Inc. purchased a new stake in GSR IV Acquisition in the 4th quarter worth approximately $1,948,000.

GSR IV Acquisition Price Performance

Shares of NASDAQ GSRF opened at $10.17 on Monday. The stock has a fifty day moving average of $10.16. GSR IV Acquisition Corp. has a 12 month low of $9.96 and a 12 month high of $10.20.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded GSR IV Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

About GSR IV Acquisition

GSR IV Acquisition Corp NASDAQ: GSRF is a special purpose acquisition company (SPAC) — a publicly listed blank‑check vehicle formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a SPAC, GSR IV does not operate a traditional commercial business or sell products and services; its principal activities are sourcing potential targets, negotiating a business combination and managing proceeds held in a trust account pending completion of a transaction.

The company's typical operating functions include maintaining the funds raised in the IPO in a trust or escrow account, performing due diligence on candidate targets, structuring acquisition and financing arrangements (which may include private investment in public equity, or PIPE, commitments), and completing a de‑SPAC transaction that brings a private operating company public through the merger process.

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