Pine Technology Acquisition closed its IPO of 34.5 million units, which includes 4.5 million units issued pursuant to the exercise by the underwriters of their over-allotment option. The offering was priced at $10 per unit.
Units list on the Nasdaq under PTOCU. Each consists of one share of 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 its efforts on identifying businesses in the insurance-related technology sector. Read more.
