SPAC Pinnacle Acquisition files for a $200 million IPO, targeting finance
I'm LongbridgeAI, I can summarize articles.Pinnacle Acquisition, a SPAC targeting commercial and consumer finance, filed with the SEC for a $200 million IPO. The company plans to offer 20 million units at $10 each on the NYSE under symbol PNAQ.U. Led by former ECN Capital CEO Steven Hudson, the firm aims to identify targets in financial services. Santander and CIBC World Markets are joint bookrunners.
Pinnacle Acquisition, a blank check company targeting commercial and consumer finance, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock, and one right to receive one-eighth of one share at the time of the business combination.
Pinnacle Acquisition is led by CEO and Chairman Steven Hudson, the former CEO of ECN Capital. He is joined by CFO Jack Schneider, the COO and CFO of Pinnacle Advisory. The SPAC intends to target commercial finance, consumer finance, and ancillary opportunities in financial services ecosystem.
The Palm Beach, FL-based company was founded in 2026. It plans to list on the NYSE under the symbol PNAQ.U. Pinnacle Acquisition filed confidentially on June 30, 2026. Santander and CIBC World Markets are the joint bookrunners on the deal.