Pinnacle Acquisition Corp (PNAQ) discloses that Chairman and CEO Steven K. Hudson beneficially owns 7,225,000 Ordinary Shares, representing 27.82% of the company’s 25,975,000 Ordinary Shares outstanding as of August 10, 2026. This includes 225,000 Class A shares within private placement units and 5,750,000 Class B “Founder Shares” that are automatically convertible into Class A on a one-for-one basis in connection with the initial business combination.
The aggregate purchase price for his beneficial holdings is $14,775,000, funded with $2,275,000 from the sponsor’s working capital and $12,500,000 of his personal funds. Hudson holds 1,250,000 Public Units bought in the IPO and shares voting and investment control over the sponsor’s holdings, while disclaiming beneficial ownership beyond his pecuniary interest. Sponsor-related agreements include lock-ups, voting commitments in favor of a business combination, and an indemnity designed to support at least $10.00 per public share in the SPAC trust account, with a 21‑month business combination window.
Pinnacle Acquisition Corporation, a Cayman Islands blank check company, reported the closing of its initial public offering, selling 20,000,000 Units at $10.00 each for $200,000,000 in gross proceeds. Each Unit consists of one Class A ordinary share and one right to receive one-eighth of a Class A share upon completion of a Business Combination. A concurrent private placement of 225,000 Units at $10.00 to the sponsor generated an additional $2,250,000. A total of $200,000,000, or $10.00 per public share, was deposited into a U.S.-based trust account, including up to $6,000,000 of deferred underwriting commissions.
The company entered into a First Amendment to its underwriting agreement, eliminating the $0.30 per Unit deferred underwriting discount on 2,250,000 Units purchased in the IPO by two sponsor-affiliated co-managing members and their permitted transferees. As a result, the current maximum deferred underwriting discount is $5,325,000 (or up to $6,225,000 if the over-allotment option is fully exercised). The audited balance sheet shows total assets of $201,499,472, including $200,000,000 in the trust and $1,478,746 of cash, against $200,000,000 of Class A shares subject to redemption and a shareholders’ deficit, reflecting typical SPAC capitalization at inception.
Linden Capital L.P. and affiliated entities reported passive ownership in Pinnacle Acquisition Corporation’s Class A ordinary shares. As of August 10, 2026, Linden Advisors LP and Siu Min (Joe) Wong may each be deemed the beneficial owner of 1,350,000 shares, representing approximately 6.7% of the outstanding Class A shares. This includes 1,301,589 shares held by Linden Capital and 48,411 shares held in separately managed accounts. Linden Capital and Linden GP LLC may each be deemed to beneficially own the 1,301,589 shares held by Linden Capital, representing approximately 6.4% of the class. All reporting persons report shared, and no sole, voting and dispositive power over their respective positions.
Pinnacle Acquisition Corp director Harry Brandler purchased 10,000 Class A Ordinary Shares on 2026-08-10 at $10.00 per share. The transaction was a direct ownership purchase and brought his reported Class A holdings to 10,000 shares. A footnote states this reflects a purchase in the company’s initial public offering.
Pinnacle Acquisition Corp Chief Executive Officer Steven K. Hudson reported purchases totaling 1,475,000 Class A Ordinary Shares on August 10, 2026 at $10.00 per share. This includes 225,000 shares held indirectly through PAC Sponsor, LLC as private placement units and 1,250,000 shares held directly, reflecting participation in the company’s initial public offering.
Pinnacle Acquisition Corp director Stoyan Paul J. reported purchasing 35,000 Class A Ordinary Shares on 2026-08-10 at $10.00 per share. The footnote states this reflects a purchase in the company’s initial public offering, and his directly held stake after the transaction is 35,000 shares.
PAC Sponsor, LLC, a more-than-10% owner of Pinnacle Acquisition Corp, reported purchasing 225,000 Class A Ordinary Shares at $10.00 per share on August 10, 2026. These shares are underlying private placement units acquired under a Private Placement Units Purchase Agreement. The sponsor also separately holds 5,750,000 Class B ordinary shares that are convertible into Class A ordinary shares on a one-for-one basis in connection with the issuer’s initial business combination.
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.
Pinnacle Acquisition Corp director Karen Lynne Martin purchased additional equity in the company. On 2026-08-10, Martin bought 10,000 Class A Ordinary Shares at $10.00 per share in a transaction described as a purchase in an open market or private transaction. The footnote explains this reflects a purchase of the issuer's securities in its initial public offering, bringing Martin's directly held stake to 10,000 shares.
Pinnacle Acquisition Corporation, a Cayman Islands blank check company, completed its initial public offering of 20,000,000 units at $10.00 per unit, generating $200,000,000 in gross proceeds. Each unit includes one Class A ordinary share and one right to receive one-eighth of a Class A ordinary share upon completion of an initial business combination. The units trade on the NYSE under “PNAQ.U,” with the Class A shares and rights expected to trade separately as “PNAQ” and “PNAQ.RT.”
The company also sold 225,000 private placement units at $10.00 each to its sponsor for $2,250,000. A total of $200,000,000, including up to $6,000,000 of deferred underwriting discounts and commissions, was deposited into a U.S. trust account. These funds may be used only for a business combination or redemptions, with a deadline of 21 months from the IPO closing. Pinnacle appointed a full board and committees, entered into indemnity and other governance agreements, and adopted amended and restated memorandum and articles of association effective August 6, 2026.