Spartan Acquisition Corp. II [NYSE: SPRQ] price surged by 21.34 percent to reach at $2.52. The company report on January 26, 2021 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Spartan Acquisition Corp. II (NYSE – SPRQ).
Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Spartan Acquisition Corp. II (“Spartan” or the “Company”) (NYSE:SPRQ) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Spartan, a special purpose acquisition company, will combine with Sunlight Financial LLC (“Sunlight”), a premier U.S. residential solar financing platform, and result in Sunlight becoming a publicly-listed company. Under the terms of the agreement, Spartan shareholders will retain ownership of only 26% of the combined company.
The investigation concerns whether the Spartan Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
A sum of 17674912 shares traded at recent session while its average daily volume was at 351.12K shares. Spartan Acquisition Corp. II shares reached a high of $16.66 and dropped to a low of $13.60 until finishing in the latest session at $14.33.
Guru’s Opinion on Spartan Acquisition Corp. II [SPRQ]:
The Average True Range (ATR) for Spartan Acquisition Corp. II is set at 1.36
SPRQ Stock Performance Analysis:
Spartan Acquisition Corp. II [SPRQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.98.