Pine Technology Acquisition Corp. (PTOC.U) Prices $300M IPO


Pine Technology Acquisition Corp. (PTOC.U) Prices $300M IPO

Pine Technology Acquisition Corp. announced the pricing of its $300 million IPO and its units are expected to begin trading on the NYSE under the symbol “PTOC.U”, Thursday, March 11.

The new company aims to combine with an insuretech target that use technology to maximize savings and efficiency and innovate risk selection processes. Pine Technology is led by CEO Christopher Longo and Non-Executive Chairman Adam Karkowsky.

Total SPAC deal count for 2021 year-to-date is now 241. This offering is expected to close on Monday, March 15.

Cantor Fitzgerald & Co. is serving as the sole bookrunner and Odeon Capital Group, LLC is serving as the co-manager for the offering. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.