Westchester Capital Management LLC Acquires Shares of 524,707 Melar Acquisition Corp. I $MACI

Key Points

• Westchester Capital Management LLC has made a substantial investment of approximately $5.37 million in Melar Acquisition Corp. I, acquiring over 524,000 shares and representing about 2.59% ownership in the company.
• Other investors, including Mizuho Securities USA LLC and Wolverine Asset Management LLC, have significantly increased their stakes in Melar Acquisition Corp. I, indicating strong institutional interest.
• The stock price of Melar Acquisition Corp. I (NASDAQ:MACI) is currently trading at $10.50, with a 52-week range between $9.95 and $10.83.

Westchester Capital Management LLC bought a new position in shares of Melar Acquisition Corp. I (NASDAQ:MACI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 524,707 shares of the company's stock, valued at approximately $5,368,000. Westchester Capital Management LLC owned about 2.59% of Melar Acquisition Corp. I as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MACI. Toronto Dominion Bank bought a new stake in shares of Melar Acquisition Corp. I during the fourth quarter worth $152,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Melar Acquisition Corp. I during the fourth quarter worth $507,000. Mizuho Securities USA LLC raised its position in shares of Melar Acquisition Corp. I by 273.2% during the first quarter. Mizuho Securities USA LLC now owns 126,753 shares of the company's stock worth $1,293,000 after acquiring an additional 92,793 shares during the last quarter. Bulldog Investors LLP bought a new stake in shares of Melar Acquisition Corp. I during the fourth quarter worth $1,512,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Melar Acquisition Corp. I during the fourth quarter worth $3,270,000.

Melar Acquisition Corp. I Trading Up 0.1%

Shares of MACI stock traded up $0.01 on Thursday, reaching $10.51. 37,641 shares of the stock were exchanged, compared to its average volume of 109,501. Melar Acquisition Corp. I has a one year low of $9.95 and a one year high of $10.83. The stock has a 50 day moving average price of $10.51 and a 200 day moving average price of $10.36.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I 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. Melar Acquisition Corp. I is based in NEW YORK.