Pine Island Acquisition Says Will Redeem Its Public Shares, Will Not Consummate Initial Business Combination
$PIPP
Consumer Electronics/Appliances
Industrials
-Reuters
-Reuters
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SC 13G/A - Pine Island Acquisition Corp. (0001822835) (Subject)
SC 13G/A - Pine Island Acquisition Corp. (0001822835) (Subject)
SC 13G/A - Pine Island Acquisition Corp. (0001822835) (Subject)
Pine Island Acquisition Corp. (NYSE:PIPP) (the "Company") announced today that, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (the "Amended Charter"), the Company intends to dissolve and liquidate in accordance with the provisions of the Amended Charter, effective as of the close of business on October 28, 2022, and will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the "Public Shares"), at a per-share redemption price of approximately $10.04. As of the close of business on October 28, 2022,
Pine Island Acquisition Corp. (the "Company") announced today that it received a non-compliance notice from the New York Stock Exchange (the "NYSE") relating to the Company's delay in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 as it seeks to comply with recently issued guidance by the Securities and Exchange Commission ("SEC") related to the accounting treatment of warrants. This notice from NYSE has no effect on the listing of the Company's securities on the NYSE. Given the scope of the valuation process for calculating the fair value of the Warrant liabilities described below in accordance with the SEC Staff Statement, the Company is not in a position to
15-12G - Pine Island Acquisition Corp. (0001822835) (Filer)
25-NSE - Pine Island Acquisition Corp. (0001822835) (Subject)
25-NSE - Pine Island Acquisition Corp. (0001822835) (Subject)