Pine Tree Acquisition Corp. announced the pricing of its initial public offering on October 6, 2026. The blank check company sold 10,000,000 units at a price of $10.00 per unit, raising gross proceeds of $100,000,000. The units are expected to begin trading on the Nasdaq Global Market under the ticker symbol "PAXGU" on the same day.
Each unit consists of one Class A ordinary share and a right. The right entitles the holder to receive three-fourths (3/4) of one Class A ordinary share upon the completion of an initial business combination, subject to adjustment. Once the securities comprising the units begin separate trading, the Class A ordinary shares are expected to trade under the symbol "PAXG" and the rights under the symbol "PAXGR".
The offering is scheduled to close on October 7, 2026, subject to customary closing conditions. Maxim Group LLC is serving as the lead book-running manager for the transaction. The underwriters have been granted a 45-day option to purchase up to an additional 1,500,000 units at the initial public offering price to cover over-allotments, if any.
The company is a Cayman Islands exempt company formed for the purpose of acquiring or merging with one or more businesses or entities. The Registration Statement on Form S-1 (SEC File No. 333-292289) was declared effective by the SEC on October 5, 2026.
