[Form 4] Pinnacle Acquisition Corp Insider Trading Activity
Pinnacle Acquisition Corp (symbol: PNAQ) is the issuer of record for a Form 4 filing submitted to the SEC.
Rhea-AI Filing Summary
Pinnacle Acquisition Corp (symbol: PNAQ) is the issuer of record for a Form 4 filing submitted to the SEC.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 750,000 shares
Other
1 txn
Insider
PAC Sponsor, LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B Ordinary Shares F1, F2, F3 | 750,000 | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 5,000,000 contracts (Direct)
Footnotes (3)
- F1. As described in the Registration Statement on Form S-1 (File No. 333-297618) of Pinnacle Acquisition Corporation (the "Issuer") under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date. No consideration is payable upon conversion.
- F2. As contemplated in connection with the initial public offering of the Issuer, as a result of the underwriters' choice of not to exercise of the over-allotment option, 750,000 Class B ordinary shares were surrendered by PAC Sponsor, LLC (the "Sponsor") to the Issuer for no consideration.
- F3. Represents shares held by the Sponsor. Steven K. Hudson and AVR Capital Holdings, LLC, an affiliate of Andrew Rechtschaffen, are the co-managing members of the Sponsor and control the management of the Sponsor, including the exercise of voting and investment discretion over the securities held by the Sponsor. Mr. Hudson and AVR Capital Holdings, LLC disclaim any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.
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