Corporate ActionAug 6, 2026, 08:48 PM
PNAQ Prices IPO of 20M Units at $10.00 Each
AI Summary
Pinnacle Acquisition Corporation announced the pricing of its initial public offering of 20,000,000 units at $10.00 per unit, totaling $200,000,000. The units will begin trading on the NYSE under the symbol "PNAQ.U" on August 7, 2026. Each unit comprises one Class A ordinary share and one right, entitling the holder to one-eighth of a Class A ordinary share upon business combination. Santander and CIBC Capital Markets are joint book-running managers, and the offering is expected to close on August 10, 2026.
Key Highlights
- Pinnacle Acquisition Corp priced its IPO of 20,000,000 units at $10.00 per unit.
- The IPO is valued at $200,000,000.
- Units will trade on NYSE under ticker "PNAQ.U" starting August 7, 2026.
- Each unit consists of one Class A ordinary share and one right (1/8 Class A share).
- Underwriters have a 45-day option to purchase up to 3,000,000 additional units.
- Santander and CIBC Capital Markets are acting as joint book-running managers.
- The offering is expected to close on August 10, 2026.
Price Impact