Pine Tree Acquisition Corp.’s (NASDAQ:PAXGU) Quiet Period Will Expire on November 16th

Pine Tree Acquisition’s (NASDAQ:PAXGU) quiet period will end on Monday, November 16th. Pine Tree Acquisition had issued 10,000,000 shares in its 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, underwriters and any insiders involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

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

Pine Tree Acquisition Stock Performance

PAXGU stock opened at $9.99 on Wednesday. Pine Tree Acquisition has a one year low of $9.95 and a one year high of $10.20.

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.