Stock Alert: Far Point Acquisition Falls To New 52-week Low

(RTTNews) - Shares of Far Point Acquisition Corp. (FPAC) are losing more than 6 percent or $0.62 in Wednesday's morning trade at $9.64, after earlier falling to a new 52-week low of $8.53.

New York-based Far Point Acquisition, a special purpose acquisition company, does not have significant operations. It focuses on merger, asset acquisition, reorganization, or similar business combination with businesses in the financial technology, technology, or financial services industries.

The company recently said it has scheduled a special meeting of its stockholders to vote on the proposed business combination transaction with Global Blue Group AG on August 24. Global Blue is a technology and payments partner for merchants.

Far Point Acquisition has traded in a range of $8.53 to $11.75 in the past 52 weeks.