Pine Tree Acquisition Corp. (the “Company”) announced on October 15, 2026, that it has completed the sale of an additional 600,000 units pursuant to the partial exercise of the over-allotment option granted to Maxim Group LLC, the underwriter and sole book-running manager for the Company’s initial public offering (IPO).
The units were sold at a price of $10.00 per unit, generating gross proceeds of $6,000,000 for the Company. Each unit consists of one Class A ordinary share, par value $0.0001 per share, and one right. The right entitles the holder to receive three-fourths (3/4) of one Class A ordinary share upon the completion of the Company’s initial business combination.
Simultaneously with the sale of these additional units, the Company issued 24,000 Ordinary Shares to an entity designated by Maxim Group LLC. As of October 15, 2026, a total of $106,000,000 of the net proceeds from the IPO and the concurrent private placement have been deposited in a trust account established for the benefit of the Company’s public shareholders.
The Company’s units are listed on the Nasdaq Global Market under the ticker symbol “PAXGU.” The Company is a Cayman Islands exempt company formed as a blank check company for the purpose of entering into a merger, amalgamation, share exchange, asset acquisition, or similar business combination.
