Pine Tree Acquisition Corp. Announces Closing of Partial Exercise of Over-Allotment Option from Initial Public Offering
Key Highlights
- ➤600,000 units sold at $10 each, generating $6 million gross proceeds
- ➤$106 million placed in trust after IPO, over-allotment, and private placement
- ➤Pine Tree Acquisition granted underwriters a 45-day option for 1.5 million units
- ➤PAXGU units include one Class A share and three-fourths of a right-linked share
NEW YORK, NY / ACCESS Newswire / October 15, 2026 / Pine Tree Acquisition Corp. (the "Company") announced today that it completed the sale of an additional 600,000 units pursuant to the partial exercise of the over-allotment option granted to Maxim Group LLC, as underwriter and sole book-running manager in the Company's initial public offering, at $10.00 per unit. The sale of the units resulted in gross proceeds to the Company of $6,000,000.
The Company's units are listed on the Nasdaq Global Market ("Nasdaq") under the ticker symbol "PAXGU." Each unit consists of one Class A ordinary share and one right entitling its holder to receive three-fourths (3/4) of one Class A ordinary share upon the Company's consummation of an initial business combination, subject to adjustment. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols "PAXG" and "PAXGR," respectively.
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