DHC Acquisition (NASDAQ:DHCA) stock is falling hard on Monday as the special purpose acquisition company (SPAC) closes in on its merger with Brand Engagement Network.
The big news here is that investors in DHCA stock voted in favor of the SPAC merger with Brand Engagement Network during an extraordinary general meeting last week.
That news puts DHC Acquisition one step closer to completing its SPAC merger with Brand Engagement Network. This has the companies preparing a filing with the Securities and Exchange Commission (SEC), including those shareholder vote results.
The SPAC merger will see DHC Acquisition acting as a vehicle to take Brand Engagement Network public. This will see the combined company operate as Brand Engagement Network Inc.
Brand Engagement Network’s shares will trade on the Nasdaq Exchange under the BNAI stock ticker symbol once the merger is complete. Its warrants will also be listed on the same exchange using the BNAIW ticker.
DHCA Stock Movement Today
Shares of DHCA stock are down 17.2% as of Monday morning. That builds on a 23.9% drop the shares experienced during normal trading hours on Friday.
As of this writing, only about 8,700 shares of DHCA stock have changed hands. Its daily average is about 22,000 shares. Friday’s activity saw some 335,000 shares traded.
Investors who are searching for more of the most recent stock market stories are in luck!
We have all of the hottest stock market news worth reading about on Monday! That includes everything happening with shares of Semilux International (NASDAQ:SELX) stock, Fangdd Network (NASDAQ:DUO) stock and Kidpik (NASDAQ:PIK) stock today. You can catch up on all of that news at the links below!
More Stock Market News for Monday
- Why Is Semilux International (SELX) Stock Down 16% Today?
- Why Is Fangdd Network (DUO) Stock Up 98% Today?
- Why Is Kidpik (PIK) Stock Up 230% Today?
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
