Banyan Acquisition Corporation
BYN-WT
New York Stock Exchange0.37
USD
+0.03
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Banyan Acquisition Corporation
BYN-WT
(New York Stock Exchange)
Recent
price
0.37
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Banyan Acquisition Corporation Banyan Acquisition Corporation (BYN-WT) operates as a blank check company with no significant ongoing business operations; it focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting opportunities in the foodservice industry; its securities include warrants tradable under the BYN-WT ticker. Incorporated in 2021 and headquartered in Northbrook, Illinois, the company functions as a subsidiary of Banyan Acquisition Sponsor LLC and conducts its activities principally in the United States. In a major strategic development completed in early 2024, Banyan Acquisition Corporation merged with Pinstripes, Inc., an experiential dining and entertainment company offering bistro services, bowling, bocce courts, and private event spaces, resulting in a combined entity valued at approximately $520 million enterprise value and listed under the ticker PNST on the New York Stock Exchange; the transaction included over $70 million in gross proceeds, featuring a $50 million senior secured loan from funds managed by Oaktree Capital Management, L.P., and an upfront equity investment from Middleton Partners to fuel Pinstripes' expansion to 150 units domestically and internationally.