Recent Updates — PNAQ-UN

Pinnacle Acquisition Corporation consummated its initial public offering on August 10, 2026, selling 20,000,000 units at $10.00 per unit for gross proceeds of $200,000,000. Each unit comprises one Class A ordinary share and a right to receive one-eighth of a share upon a business combination. Simultaneously, the company sold 225,000 private placement units to its sponsor for $2,250,000. Of the IPO proceeds, $200,000,000 was placed in a trust account. The underwriters received a cash commission of $250,000 and are entitled to deferred discounts totaling $6,000,000; however, an amendment dated August 14, 2026, waived the $0.30 per unit deferred discount for units purchased by sponsor affiliates, reducing the maximum payable deferred discount to $5,325,000. The company operates as a blank check company (SPAC) organized to effect a merger or business combination with one or more target businesses.