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Pine Technology Acquisition Corp. SPAC Closes $345 Million IPO
- Client News
- March 15, 2021
Practices
Paul, Weiss represented Pine Technology Acquisition Corp. in its initial public offering of 34,500,000 units, priced at $10.00 per unit. The offering included 4,500,000 units issued pursuant to the underwriters’s exercise of their full over-allotment option. The units, each of which consists of one share of the Company’s Class A common stock and one third of one warrant, will be listed on the Nasdaq Capital Market. Cantor Fitzgerald & Co. served as the sole bookrunner and Odeon Capital Group, LLC served as the co-manager for the offering.
The company was founded by Trident Pine Acquisition, L.P., an affiliate of Stone Point Capital LLC, and Barry Zyskind and Adam Karkowsky, the respective CEO and president of AmTrust Financial Services, Inc. The company will seek a business combination with one or more businesses and intends to focus its search for a target business in the insurance-related technology sector.
The Paul, Weiss team included corporate partners Christopher Cummings, Adam Givertz and Raphael Russo; and tax partners Brian Grieve and David Mayo.