Periscope Capital Inc. Makes New Investment in GP-Act III Acquisition Corp. (NASDAQ:GPAT)

Periscope Capital Inc. bought a new position in GP-Act III Acquisition Corp. (NASDAQ:GPAT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 275,000 shares of the company’s stock, valued at approximately $2,772,000. GP-Act III Acquisition comprises about 1.5% of Periscope Capital Inc.’s portfolio, making the stock its 20th largest position.

Other hedge funds have also modified their holdings of the company. Wolverine Asset Management LLC bought a new position in GP-Act III Acquisition in the 3rd quarter worth approximately $2,894,000. Wealthspring Capital LLC bought a new stake in shares of GP-Act III Acquisition during the third quarter worth $2,560,000. PNC Financial Services Group Inc. acquired a new position in shares of GP-Act III Acquisition during the third quarter valued at $1,613,000. Finally, Dakota Wealth Management bought a new position in GP-Act III Acquisition in the third quarter valued at about $488,000.

GP-Act III Acquisition Price Performance

Shares of NASDAQ:GPAT opened at $10.08 on Friday. GP-Act III Acquisition Corp. has a 1-year low of $9.98 and a 1-year high of $10.10. The stock’s 50-day moving average price is $10.07.

GP-Act III Acquisition Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.