Pinnacle Acquisition Corp (PNAQ) director reports 1.23M-share indirect purchase
Rhea-AI Filing Summary
Pinnacle Acquisition Corp director and ten percent owner Andrew Rechtschaffen reported two indirect purchases of Class A Ordinary Shares on 2026-08-10. Entities associated with him acquired 225,000 shares at $10.00 per share through PAC Sponsor, LLC and 1,000,000 shares at $10.00 per share through AVR Capital Holdings, LLC, resulting in 1,225,000 Class A shares indirectly held. The filing notes these positions are held via affiliated entities, with beneficial ownership disclaimed except for any pecuniary interest.
Positive
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Negative
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Insights
Analyzing...
Insider Trade Summary
Net Buyer: 1,225,000 shares
Net Buy
2 txns
Insider
RECHTSCHAFFEN ANDREW
Role
Director, 10% Owner
Bought
1,225,000 shs ($12.25M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class A Ordinary Shares F1, F2 | 225,000 | $10.00 | $2.25M |
| Purchase | Class A Ordinary Shares F3, F2 | 1,000,000 | $10.00 | $10.00M |
Holdings After Transaction:
Class A Ordinary Shares — 225,000 shares (Indirect, By PAC Sponsor, LLC);
Class A Ordinary Shares — 1,225,000 shares (Indirect, By AVR Capital Holdings, LLC)
Footnotes (3)
- F1. Represents shares underlying the private placement units (each unit consisting of one Class A ordinary share one right to receive one-eighth (1/8) of one Class A ordinary share upon consummation of the Issuer's initial business combination) directly held by PAC Sponsor, LLC (the "Sponsor"), and which were acquired pursuant to a Private Placement Units Purchase Agreement by and between the Sponsor and Pinnacle Acquisition Corporation (the "Issuer"). Does not include previously reported ownership of 5,750,000 Class B ordinary shares, which shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-297618).
- F2. 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.
- F3. Reflects purchase by AVR Capital Holdings, LLC of the Issuer's securities in the Issuer's initial public offering.
Key Figures
First purchase shares: 225,000 Class A Ordinary Shares
Second purchase shares: 1,000,000 Class A Ordinary Shares
Purchase price: $10.00 per share
+2 more
5 metrics
First purchase shares
225,000 Class A Ordinary Shares
Indirectly acquired on 2026-08-10 via PAC Sponsor, LLC
Second purchase shares
1,000,000 Class A Ordinary Shares
Indirectly acquired on 2026-08-10 via AVR Capital Holdings, LLC
Purchase price
$10.00 per share
Price for both reported Class A Ordinary Share purchases
Indirect Class A holdings
1,225,000 Class A Ordinary Shares
Total indirect Class A Ordinary Shares following transactions
Previously reported Class B shares
5,750,000 Class B ordinary shares
Previously reported; to convert into Class A upon initial business combination
Key Terms
Private Placement Units Purchase Agreement, initial business combination, Class B ordinary shares, pecuniary interest, +1 more
5 terms
Private Placement Units Purchase Agreement financial
"acquired pursuant to a Private Placement Units Purchase Agreement by and between the Sponsor"
initial business combination financial
"upon consummation of the Issuer's initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
pecuniary interest financial
"disclaim any beneficial ownership of the reported shares other than to the extent of any pecuniary interest"
initial public offering financial
"Reflects purchase by AVR Capital Holdings, LLC of the Issuer's securities in the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did PNAQ director Andrew Rechtschaffen report?
Andrew Rechtschaffen reported two indirect purchases of Pinnacle Acquisition Corp Class A Ordinary Shares on 2026-08-10, totaling 1,225,000 shares at $10.00 per share through affiliated entities PAC Sponsor, LLC and AVR Capital Holdings, LLC.
Are the PNAQ Form 4 transactions tied to the initial public offering?
One transaction footnote states that AVR Capital Holdings, LLC purchased Pinnacle Acquisition Corp securities in the issuer’s initial public offering, while another references private placement units held by PAC Sponsor, LLC under a Private Placement Units Purchase Agreement.