Prime Number Acquisition I Corp.
PNAC
NASDAQ Global Market4.26
USD
-3.77
- -
Prime Number Acquisition I Corp.
PNAC
(NASDAQ Global Market)
Recent
price
4.26
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Prime Number Acquisition I Corp. (PNAC) operates as a blank check company, or special purpose acquisition company (SPAC), whose principal business activity is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company targets entities in technology-enabled financial sectors, including blockchain, datacenters, non-fungible tokens, ecommerce, and related infrastructure; it explicitly avoids initial combinations with entities primarily based in or operating in China, Hong Kong, or Macau. Incorporated in 2021 and headquartered in Manhasset, New York, PNAC conducts its operations principally in the United States through its NASDAQ-listed Class A ordinary shares. In a major development, PNAC completed a business combination with noco-noco Pte. Ltd., a Singapore-based early-stage decarbonization solutions provider focused on battery technologies for carbon-neutral applications, in August 2023; the transaction involved a merger and share exchange through Prime Number Holding Ltd. (PubCo), resulting in PNAC becoming a subsidiary, PubCo renaming to noco-noco Inc., and shares trading under the ticker NCNC on NASDAQ before a November 2024 delisting determination due to non-compliance with listing standards, with noco-noco planning an appeal. Subsequent changes for the post-combination entity include securing a $150 million standby equity line of credit in August 2024, acquiring separator production facilities and X-SEPA™ manufacturing equipment from noco-tech for approximately $9 million in shares to bolster equity, announcing a 2025 Business Restart Plan targeting mass production of high-performance batteries and a 1 GWh energy storage project in Japan, and scheduling an extraordinary general meeting in December 2024 to approve share consolidation postponement and capital increases.
noco-noco Pte. Ltd. and Prime Number Acquisition I Corp. Announce Plan for Closing of Business Combination on August 25, 2023
noco-noco and Prime Number Acquisition I Corp. announce business combination approval by Prime Number Acquisition I Corp. stockholders
Prime Number Acquisition I Corp. Announces Extension of the Deadline for an Initial Business Combination
Prime Number Acquisition I Corp. Announces that it will Adjourn the Special Meeting of Shareholders to Approve Business Combination with noco-noco Pte. Ltd. to August 16, 2023
Prime Number Acquisition I Corp. Announces Extension of the Deadline for an Initial Business Combination