Whitebox Advisors LLC Makes New Investment in Harvard Ave Acquistion Corp $HAVA

Key Points

• Whitebox Advisors bought 750,000 shares of Harvard Ave Acquisition Corp. (HAVA), worth approximately $7.5 million, giving it a 3.62% stake.
• Several other institutional investors also initiated positions, while Weiss Ratings modestly upgraded HAVA from “sell (e)” to “sell (e+).” The stock retains an overall “Sell” consensus rating.
• HAVA opened at $10.15, near its 52-week high, and operates as a SPAC seeking a business combination.

Whitebox Advisors LLC purchased a new position in Harvard Ave Acquistion Corp (NASDAQ:HAVA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 750,000 shares of the company's stock, valued at approximately $7,508,000. Whitebox Advisors LLC owned about 3.62% of Harvard Ave Acquistion at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in HAVA. Aristeia Capital L.L.C. bought a new stake in shares of Harvard Ave Acquistion during the 4th quarter worth $5,462,000. Lineage Point Capital LP bought a new position in Harvard Ave Acquistion in the fourth quarter valued at $2,433,000. Context Capital Management LLC purchased a new stake in Harvard Ave Acquistion during the fourth quarter valued at about $2,979,000. Sona Asset Management US LLC purchased a new stake in Harvard Ave Acquistion during the first quarter valued at about $4,106,000. Finally, Radcliffe Capital Management L.P. bought a new stake in Harvard Ave Acquistion during the fourth quarter worth about $5,462,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Harvard Ave Acquistion from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Harvard Ave Acquistion Stock Performance

HAVA stock opened at $10.15 on Monday. Harvard Ave Acquistion Corp has a one year low of $9.87 and a one year high of $10.15. The business's 50 day simple moving average is $10.11.

Harvard Ave Acquistion Profile

Harvard Ave Acquisition NASDAQ: HAVA is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, reorganization or similar business combination. As with other blank-check companies, its primary corporate purpose prior to completing a business combination is to identify and negotiate a qualifying transaction that will result in an operating public company.

The company's principal activities consist of sourcing potential targets, conducting due diligence, negotiating transaction terms, and, if approved by shareholders, completing a business combination.

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