Earlier on in the week on Wednesday, Blue Safari Group Acquisition Corp (OTCMKTS:BSGAR) was in the news after the company released the discussion as well as analyses with regards to its current financial situation. It seems that market participants were impressed by what they saw and the Blue Safari Group was on the move yesterday.
The stock ended the day with gains of as much as 7%. Blue Safari Group is a blank check company that is incorporated in the British Virgin Islands. Yesterday, the company announced that in the second fiscal quarter that had ended on June 30, 2021 it made a loss of $95,585. The losses made by the company are made up of both operational costs as well as formation costs.
The company also provided key information with regards to its initial public offering. Blue Safari Group noted that back on June 9 this year the company finally had its IPO and offered a total of 5,000,000 units. A solitary unit was made up of one common share in Blue Safari Group and a right by way of which investors could get a tenth of a common share after the completion of the planned business combination.