Pine Technology Acquisition priced its IPO of 30 million units at $10 per unit.
The units begin trading today on the Nasdaq under PTOCU. Each consists of one Class A common stock and one-third of one redeemable warrant, each whole warrant exercisable at $11.50 for a share. Once the securities constituting the units begin separate trading, stock and warrants will list under PTOC and PTOCW, respectively.
The SPAC intends to concentrate on businesses in the insurance-related technology sector, but it may pursue an initial business combination target in any business or industry. Read more.
