RedCloud Holdings plc's Lock-Up Period To Expire on September 17th (NASDAQ:RCT)

Key Points

• RedCloud Holdings plc's lock-up period is set to expire on September 17th, allowing major shareholders and insiders to trade their shares.
• The company issued 4,444,445 shares during its IPO, raising approximately $20 million based on an initial share price of $4.50.
• Wall Street Zen upgraded RedCloud to a "hold" rating on September 1st, amid ongoing fluctuations in the stock’s performance, with a current trading price of $1.28.

RedCloud's (NASDAQ:RCT - Get Free Report) lock-up period will expire on Wednesday, September 17th. RedCloud had issued 4,444,445 shares in its initial public offering on March 21st. The total size of the offering was $20,000,003 based on an initial share price of $4.50. After the expiration of RedCloud's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of RedCloud to a "hold" rating in a report on Monday, September 1st.

RedCloud Trading Down 7.8%

NASDAQ RCT traded down $0.10 on Friday, reaching $1.18. The company had a trading volume of 388,959 shares, compared to its average volume of 214,467. RedCloud has a 12 month low of $1.13 and a 12 month high of $5.36.

RedCloud Company Profile

We have developed and operate the RedCloud platform (the “Platform”), that facilitates the trading of everyday consumer supplies of fast-moving consumer goods (“FMCG”) products across business supply chains. We believe the Platform solves a decades old problem of how to unlock and enable access of key purchase and sales data between brands, distributors and retailers in high growth consumer markets.