Pinnacle Acquisition Corporation (NYSE: PNAQ.U) announced that, commencing September 25, 2026, holders of the units sold in its initial public offering may elect to separately trade the Company’s Class A ordinary shares and rights included in the units. The Class A ordinary shares and rights that are separated will trade on the New York Stock Exchange under the symbols “PNAQ” and “PNAQ.RT,” respectively. Those units not separated will continue to trade on the New York Stock Exchange under the symbol “PNAQ.U.”
The Company previously consummated its initial public offering (IPO) on August 10, 2026, selling 20,000,000 units at a price of $10.00 per Unit, generating gross proceeds of $200,000,000. Each Unit consists of one Class A ordinary share and one right to receive one-eighth of one Class A ordinary share upon the consummation of the Company’s initial business combination.
On September 21, 2026, the Company reported that 750,000 shares of Class B ordinary shares were forfeited by the Sponsor, PAC Sponsor, LLC, following the expiration of the underwriters’ over-allotment option without any exercise. The forfeited shares were cancelled to allow the Sponsor to maintain ownership of 20.0% of the issued and outstanding ordinary shares of the Company (excluding the Class A ordinary shares underlying the private placement units held by the Sponsor).
The Company intends to focus its search on partnering with management and owners of high-quality companies seeking an alternative to a traditional initial public offering in commercial finance, consumer finance and adjacent areas of the broader financial services ecosystem, including technology-enabled platforms and specialty finance businesses.
