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 Melar Acquisition Corp. I (NASDAQ:MACI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MACI. Schonfeld Strategic Advisors LLC acquired a new stake in Melar Acquisition Corp. I during the 4th quarter valued at approximately $507,000. Bulldog Investors LLP acquired a new stake in shares of Melar Acquisition Corp. I during the 4th quarter worth approximately $1,512,000. D. E. Shaw & Co. Inc. grew its position in shares of Melar Acquisition Corp. I by 35.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 576,328 shares of the company's stock worth $5,809,000 after buying an additional 151,328 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Melar Acquisition Corp. I during the 4th quarter worth approximately $3,270,000. Finally, LMR Partners LLP acquired a new stake in shares of Melar Acquisition Corp. I during the 4th quarter worth approximately $14,939,000.

Melar Acquisition Corp. I Price Performance

Shares of MACI traded up $0.01 during trading hours on Friday, reaching $10.51. The stock had a trading volume of 37,641 shares, compared to its average volume of 65,468. Melar Acquisition Corp. I has a 12 month low of $9.95 and a 12 month high of $10.83. The firm has a 50-day simple moving average of $10.51 and a 200 day simple moving average of $10.37.

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.