Pine Island Acquisition Corp. Announces It Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Pine Island Acquisition Corp. (NYSE: PIPP) (the “Company”) announced today that, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (the “Amended Charter”), the Company intends to dissolve and liquidate in accordance with the provisions of the Amended Charter, effective as of the close of business on October 28, 2022, and will redeem all of the ou