Pinstripes To Become Public Company Via Merger With SPAC Banyan Acquisition
Portfolio Pulse from Akanksha Bakshi
Pinstripes Inc plans to go public via a merger with Banyan Acquisition Corp (NYSE:BYN) at a pro forma enterprise value of $520 million. Upon completion, Pinstripes will trade on the NYSE under PNST and warrants under PNST WS. The transaction is expected to close in 4Q23.
June 23, 2023 | 3:32 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Banyan Acquisition Corp (NYSE:BYN) is merging with Pinstripes Inc at a pro forma enterprise value of $520 million. The transaction is expected to close in 4Q23.
The merger with Pinstripes Inc is expected to have a positive short-term impact on Banyan Acquisition Corp's stock price. The deal values Pinstripes at $520 million, and upon completion, the combined company will trade on the NYSE. This news is highly relevant and important for BYN investors, as it represents a significant milestone for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100