Federal Street Acquisition Corp’s Lock-Up Period Set To End on January 15th (NASDAQ:FSACU)

Federal Street Acquisition’s (NASDAQ:FSACU) lock-up period will end on Monday, January 15th. Federal Street Acquisition had issued 40,000,000 shares in its IPO on July 19th. The total size of the offering was $400,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Shares of Federal Street Acquisition (FSACU) opened at $10.30 on Friday. Federal Street Acquisition has a fifty-two week low of $9.53 and a fifty-two week high of $10.50.

A number of institutional investors have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC bought a new position in Federal Street Acquisition in the 3rd quarter worth approximately $1,213,000. Myriad Asset Management Ltd. bought a new position in Federal Street Acquisition in the 3rd quarter worth approximately $1,546,000. Westchester Capital Management LLC bought a new position in Federal Street Acquisition in the 3rd quarter worth approximately $1,907,000. Periscope Capital Inc. bought a new position in Federal Street Acquisition in the 3rd quarter worth approximately $4,175,000. Finally, Pacific Grove Capital LP bought a new position in Federal Street Acquisition in the 3rd quarter worth approximately $5,714,000.

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