Pine Tree Acquisition Corp.’s (NASDAQ:PAXGU) Quiet Period To End Tomorrow

Pine Tree Acquisition’s (NASDAQ:PAXGU) quiet period is set to expire on Monday, November 16th. Pine Tree Acquisition had issued 10,000,000 shares in its initial public offering on October 6th. The total size of the offering was $100,000,000 based on an initial share price of $10.00. During Pine Tree Acquisition’s quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Pine Tree Acquisition to a “sell” rating in a research note on Saturday, October 10th.

Pine Tree Acquisition Trading Up 0.2%

Shares of PAXGU stock opened at $10.06 on Friday. Pine Tree Acquisition has a 1-year low of $9.95 and a 1-year high of $10.40.

About Pine Tree Acquisition

Pine Tree Acquisition Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating businesses. The company does not have significant operating activities of its own and was established to raise capital through an initial public offering for the purpose of pursuing a merger, acquisition, or similar transaction. Its publicly traded units, represented by the Nasdaq symbol PAXGU, generally consist of shares of common stock and accompanying warrants.