Pine Tree Acquisition Corp. completed the sale of 600,000 additional units at $10.00 per unit through a partial exercise of the over-allotment option, generating $6,000,000 in gross proceeds for the company. The underwriters had been granted a 45-day option to purchase up to 1,500,000 additional units at the initial offering price to cover over-allotments, if any.
Each unit consists of one Class A ordinary share and one right to receive three-fourths of one Class A ordinary share upon consummation of an initial business combination, subject to adjustment. The units are listed on the Nasdaq Global Market as PAXGU; when the securities begin separate trading, the shares and rights are expected to list as PAXG and PAXGR, respectively. An aggregate of $106,000,000 from net IPO proceeds, including the partial option exercise, and a simultaneous private placement of units was placed in trust.
Pine Tree Acquisition Corp. completed its initial public offering on October 7, 2026, selling 10,000,000 units at $10.00 each for $100,000,000 in gross proceeds. Each public unit included one Class A ordinary share and one right to receive three-fourths of a Class A ordinary share upon completion of a business combination. The co-sponsors, Pine Tree Sponsor Group, LLC and North Penn, LLC, purchased 140,000 private placement units for $1,400,000.
At October 7, 2026, the Trust Account held $100,000,000 and cash outside it was $648,140; total liabilities were $308,129. The company had not selected a target or commenced operations. It has until October 7, 2027 to complete a business combination. If it anticipates it may be unable to meet that deadline, it may seek shareholder approval to extend it. Management reported sufficient liquidity for at least one year from issuance and no substantial doubt about the company’s ability to continue as a going concern. The independent auditor concluded that the balance sheet fairly presented the company’s financial position in accordance with U.S. GAAP.
Pine Tree Acquisition Corp. sponsor Pine Tree Sponsor Group, LLC reported beneficial ownership of 5,063,571 Class A ordinary shares, approximately 32.7% of the class. The reported amount comprises 135,000 Class A shares included in Private Placement Units and 4,928,571 Class A shares issuable upon conversion of Founder Shares. Up to 642,857 Founder Shares are subject to surrender for no consideration, depending on exercise of the underwriters’ over-allotment option.
On October 7, 2026, Pine Tree Sponsor Group purchased 135,000 Private Placement Units at $10.00 per unit, for an aggregate purchase price of $1,350,000. Each unit includes one Class A share and one right to receive three-fourths of a Class A share upon consummation of the initial business combination, subject to adjustment. Subject to exceptions and early-release provisions, Founder Shares are restricted from transfer until one year after that combination; the units and underlying securities are restricted until 30 days after.
Pine Tree Acquisition Corp. (PAXGU) is the issuer of Class A ordinary shares for which CVI Investments, Inc. reports 800,000 shares, or 7.6%, as beneficially owned. Heights Capital Management, Inc., CVI’s investment manager, reports shared voting and dispositive power over the same shares; each reporting person disclaims beneficial ownership except for its pecuniary interest. The shares are held in units, each comprising one share and a right to receive three-fourths of a share upon consummation of an initial business combination. The prospectus states that 10,540,000 shares were outstanding upon completion of the unit offering.
Pine Tree Acquisition Corp. (PAXGU) Class A ordinary shares were reported as beneficially owned by Feis Equities LLC and Lawrence M. Feis, each listing 999,000 shares, or 9.99% of the class. Each reported sole voting and dispositive power over 999,000 shares, with zero shared voting or dispositive power. Pine Tree Acquisition Corp. had 10,000,000 Class A ordinary shares outstanding as of October 6, 2026.
Pine Tree Acquisition Corp. (PAXGU) units: Space Summit Capital LLC reported it may be deemed the beneficial owner of 850,000 units, or 8.5% of units outstanding. It reported sole voting and dispositive power over 850,000 units, with shared voting and dispositive power of zero.
Pine Tree Acquisition Corp. priced its initial public offering of 10,000,000 units at $10.00 per unit, a stated offering size of $100,000,000. Each unit consists of one Class A ordinary share and one right to receive three-fourths (3/4) of one Class A ordinary share upon consummation of an initial business combination, subject to adjustment.
Trading of the units is expected to begin October 6, 2026, on the Nasdaq Global Market under PAXGU. Once the unit securities begin separate trading, the shares and rights are expected to be listed under PAXG and PAXGR, respectively. The offering is expected to close October 7, 2026, subject to customary closing conditions. The underwriters have a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price to cover over-allotments, if any. Maxim Group LLC is acting as lead book-running manager. Pine Tree is a blank check company formed to pursue a business combination.
Pine Tree Acquisition Corp. (PAXGU) is offering 10,000,000 units at $10.00 each, for a $100,000,000 public offering. Each unit includes one Class A ordinary share and one right to receive three-fourths of a Class A ordinary share when an initial business combination closes; four rights entitle holders to three shares. The underwriters may buy up to 1,500,000 additional units under a 45-day over-allotment option. Pine Tree is a blank-check company seeking a business combination and has generated no revenue.
The company expects $100,000,000 in trust at offering close, or $115,000,000 if the over-allotment option is exercised in full. The sponsors have committed to buy 140,000 private placement units for $1,400,000, closing simultaneously. Pine Tree Sponsor Group, LLC paid $25,000 for founder shares; the company says these shares will cause immediate and substantial dilution to public shareholders at closing. Pine Tree must complete a business combination within 12 months after offering close, or by any earlier liquidation date approved by its board. If it does not, it will redeem 100% of public shares at the then-applicable trust-account per-share value, including interest net of taxes payable and up to $100,000 of interest for dissolution expenses.
Pine Tree Acquisition Corp. (PAXGU) reports direct holdings by its ten-percent owner, Pine Tree Sponsor Group, LLC: 135,000 Class A ordinary shares, 4,928,571 Class B ordinary shares and 101,250 rights, reported on October 5, 2026.
The footnotes state that the Class A shares and rights are contained in units the sponsor irrevocably agreed to purchase at the IPO closing. The Class B holdings include up to 642,857 shares to be surrendered to the issuer for no consideration after the IPO closing, depending on the underwriter’s over-allotment option. Class B shares are convertible one-for-one into Class A shares, subject to adjustments; each right converts automatically into three-fourths of one Class A share at the closing of a business combination. Both instruments have no expiration date.