Yakira Capital sells $6.78 million in Broad Capital inventory

Yakira Capital Administration, Inc., a major stakeholder in Broad Capital Acquisition Corp (NASDAQ:BRAC), not too long ago bought a considerable portion of its holdings within the firm. The transaction, which occurred on January 21, concerned the sale of 571,850 shares at a worth of $11.86 per share, amounting to a complete of roughly $6.78 million. The sale occurred as BRAC’s inventory trades close to $11.70, with InvestingPro information exhibiting the inventory’s RSI indicating overbought territory. The corporate’s market capitalization at the moment stands at roughly $55 million.

Submit-transaction, Yakira Capital now not holds shares in Broad Capital, in accordance with the submitting. The shares have been not directly owned by means of entities suggested by Yakira Capital, together with Yakira Companions, L.P., Yakira Enhanced Offshore Fund Ltd., and MAP 136 Segregated Portfolio. Yakira Capital, serving as an funding advisor to those entities, exercised sole voting and funding discretion over the securities. InvestingPro evaluation reveals regarding metrics for BRAC, together with a weak monetary well being rating and short-term obligations exceeding liquid belongings, with a present ratio of simply 0.01.

Nicholas Sabatini, the Chief Monetary Officer and Chief Compliance Officer of Yakira Capital, signed off on the transaction, which was filed with the SEC on January 23. For traders in search of deeper insights, InvestingPro gives further evaluation with over 30 key metrics and unique ProTips for BRAC.

This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.