According to a recent Form 13F filing submitted to the SEC, Saba Capital Management disclosed a noteworthy new position in Acri Capital Acquisition Corporation (NASDAQ: ACAC) stock. Here’s what you need to know about Acri Capital Acquisition Corporation, as well as Saba Capital Management’s position in shares of ACAC stock:
Saba Capital Management
Founded in 2009, Saba Capital Management L.P. is a registered investment advisor focused on credit and equity relative value strategies. Saba is a spin-out of one of the largest proprietary groups in the industry, ‘Saba Principal Strategies’, founded by Boaz Weinstein at Deutsche Bank in 1998. Saba’s senior investment team began working together at Deutsche Bank in the early 2000s, and is best known for having pioneered credit relative value and capital structure trading strategies. Saba currently manages four core strategies: Credit Relative Value, Tail Hedge, SPACs and Closed-End Funds. Saba’s investors are predominately institutions and include corporate pensions, public pensions, foundations, fund of funds, endowments, and family offices. Saba is 100% self-owned. Saba is headquartered in the historic Chrysler Building in New York and is registered with the SEC and CFTC. You can learn more about Saba Capital Management on their website here.
Saba Capital Management’s New Position in ACAC Stock
According to the most recent 13F filing from Saba Capital Management, the institutional investment manager added a meaningful position in Acri Capital Acquisition Corporation (NASDAQ: ACAC), with 500,000 shares, which represents approximately 4.6377% of the 10,781,201 total ACAC shares outstanding. Based on ACAC’s last closing price of $10.06 per share, Saba Capital Management’s stake in ACAC is worth approximately $5,030,000.00, assuming no change in the position size. If you’re not very familiar with Acri Capital Acquisition Corporation, learn more below.
Acri Capital Acquisition Corporation (NASDAQ: ACAC)
Acri Capital Acquisition Corporation focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or other business combination with one or more businesses. It intends to complete a business combination with technology-enabled companies operating in the areas of Software-as-a-Service, artificial intelligence, cloud computing, and Internet of Things. The company was incorporated in 2022 and is based in Austin, Texas.
Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Saba Capital Management. Also be sure to check out more recent 13F filing analysis news here.