Pinnacle (PNAQ) 10% Owner Andrew Rechtschaffen Buys Stock

What Happened Andrew Rechtschaffen, reported as a 10% owner, purchased a total of 1,225,000 Class A ordinary shares of Pinnacle Acquisition Corp. on August 10, 2026. The trades were two purchases: 225,000 shares at $10.00 ($2,250,000) and 1,000,000 shares at $10.00 ($10,000,000), for a combined outlay of $12,250,000. These are purchases (transaction code P), which are direct acquisitions rather than sales.

Key Details

• Transaction dates and prices: Aug 10, 2026 — 225,000 shares @ $10.00; Aug 10, 2026 — 1,000,000 shares @ $10.00.
• Total value: $12,250,000.
• Shares owned after transaction: Not specified in the Form 4 provided.
• Filing date and timeliness: Report filed Aug 12, 2026 (appears filed within the required reporting window).
• Relevant footnotes:
  • F1: Some reported shares represent private placement units held by PAC Sponsor, LLC (units include one Class A share plus a right to receive 1/8 of a share upon the issuer’s business combination); founder Class B shares (previously reported) are excluded from these amounts.
  • F2: Shares are held by the Sponsor; AVR Capital Holdings, LLC (an affiliate of Mr. Rechtschaffen) is a co-managing member of the Sponsor and may exercise voting/investment control; co-managers disclaim beneficial ownership except for any pecuniary interest.
  • F3: Reflects purchases by AVR Capital Holdings, LLC in the issuer’s IPO.

Context These transactions are purchases by a 10% owner (institutional/affiliate level) rather than a routine executive sale; purchases can be interpreted as a commitment of capital but do not guarantee future performance. Some of the reported interests involve private-placement units held by the Sponsor and affiliate entities (not simple open-market single-share trades), so ownership and conversion features (e.g., unit rights and founder Class B conversion) affect ultimate share economics.