Pine Technology Acquisition Corp.
PTOCU
NASDAQ Capital Market10.11
USD
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Pine Technology Acquisition Corp.
PTOCU
(NASDAQ Capital Market)
Recent
price
10.11
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Similar Companies
- Business
- Pine Technology Acquisition Corp. (Nasdaq: PTOCU) operates as a blank check company whose sole purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting the insurance-related technology (InsurTech) sector; it currently conducts no significant operations and generates no revenues from products or services. Incorporated in 2020 and headquartered at 260 Lena Drive in Aurora, Ohio, the company focuses its search efforts on established InsurTech targets with defensible market positions, stable cash flows, and growth potential through further acquisitions, serving investors seeking exposure to this niche without direct operational assets. In March 2022, Pine Technology terminated its proposed business combination with weather intelligence platform Tomorrow.io amid unfavorable market conditions, incurring a $1.5 million termination fee from the target; unable to identify and complete an alternative deal by the deadline, the company elected to dissolve and liquidate on March 10, 2023, redeeming public shares at approximately $10.17 per unit after accounting for taxes and dissolution costs, with its securities delisted from Nasdaq thereafter.