{"id":382425,"date":"2020-11-16T19:46:00","date_gmt":"2020-11-17T00:46:00","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382425"},"modified":"2020-11-16T19:46:00","modified_gmt":"2020-11-17T00:46:00","slug":"pine-island-acquisition-corp-announces-pricing-of-200-million-initial-public-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pine-island-acquisition-corp-announces-pricing-of-200-million-initial-public-offering\/","title":{"rendered":"Pine Island Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering"},"content":{"rendered":"

<\/p>\n

Pine Island Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering<\/b><\/p>\n

FORT LAUDERDALE, Fla.–(BUSINESS WIRE<\/a>)–
\nPine Island Acquisition Corp. (the \u201cCompany<\/span>\u201d) today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the New York Stock Exchange under the ticker symbol \u201cPIPP.U\u201d beginning November 17, 2020. Each unit consists of one share of the Company\u2019s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the New York Stock Exchange under the symbols \u2018\u2018PIPP\u2019\u2019 and \u2018\u2018PIPP WS,\u2019\u2019 respectively.\n<\/p>\n

\nThe Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company\u2019s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on businesses in the defense, government service and aerospace industries.\n<\/p>\n

\nCitigroup is acting as sole book-running manager. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional units at the initial public offering price to cover over-allotments, if any.\n<\/p>\n

\nThe public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., c\/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: 1-800-831-9146.\n<\/p>\n

\nA registration statement relating to the securities became effective on November 16, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is expected to close on November 19, 2020, subject to customary closing conditions.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains statements that constitute \u201cforward-looking statements,\u201d including with respect to the proposed initial public offering and the Company\u2019s plans with respect to the target industry for a potential business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company\u2019s registration statement and preliminary prospectus for the Company\u2019s offering filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d). Copies of these documents are available on the SEC\u2019s website, at www.sec.gov<\/a>. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201116006092\/en\/<\/a><\/span><\/p>\n

\nPine Island Acquisition Corp.
\n
Clyde Tuggle
\n
(954) 526-4865
\n
ir@pineislandac.com<\/a><\/p>\n

KEYWORDS:<\/b> Florida United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Pine Island Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering FORT LAUDERDALE, Fla.–(BUSINESS WIRE)– Pine Island Acquisition Corp. (the \u201cCompany\u201d) today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed for trading on the New York Stock Exchange under the ticker symbol \u201cPIPP.U\u201d beginning November 17, 2020. Each unit consists of one share of the Company\u2019s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that … <\/p>\n

Continue reading “Pine Island Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382425","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPine Island Acquisition Corp. 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