Pinstripes Reports Fiscal Fourth Quarter, Fiscal Year 2024 Results, And Fiscal 2025 Guidance 17 total venues with three additional venues in development as of June 27, 2024 Issues Fiscal 2025 guidance including approximately $10 million in annual cost savings NORTHBROOK, Ill. - June 27, 2024 - Pinstripes Holdings, Inc. ("Pinstripes" or "the Company") (NYSE: PNST), a best-in-class experiential dining and entertainment brand combining bistro, bowling, bocce and private event space, today reported its financia ...

Pinstripes Holdings Inc. (NYSE:PNST) Q3 2023 Earnings Conference Call February 21, 2024 5:00 PM ET Company Participants Dale Schwartz - President & Chief Executive Officer Tony Querciagrossa - Chief Financial Officer Conference Call Participants Peter Sala - BTIG Sharon Zackfia - William Blair Operator Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Pinstripes Holdings Inc. Third Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants have been placed in a ...

Financial Position - As of September 30, 2023, the company had cash of $304,554 and a working capital deficit of $6,289,130[127]. - The company has treasury securities in the Trust Account amounting to $42,423,610 as of September 30, 2023[142]. - As of September 30, 2023, the Trust Account balance was $42,423,610 after an aggregate payment of $210,031,815 to redeeming holders[150]. - The Company has no off-balance sheet arrangements or long-term debt obligations as of September 30, 2023[152]. Business Combination - The company anticipates closing the Business Combination with Pinstripes, with a revised equity value of $379,366,110[132]. - The company plans to use substantially all funds in the Trust Account to complete the Initial Business Combination, which totaled $246,330,000 after the Initial Public Offering[141]. - The company has incurred significant costs in pursuit of its Initial Business Combination plans and does not expect to generate operating revenues until after the completion of the Business Combination[133]. - The Company has extended the deadline to complete its Initial Business Combination from April 24, 2023, to December 24, 2023[149]. - The Company engaged William Blair as a co-placement agent, with a success fee of $4,000,000 contingent on the Initial Business Combination[157]. Financial Performance - For the three months ended September 30, 2023, the company reported a net loss of $108,738, with total expenses of $1,496,328 and interest income of $518,257[134]. - For the nine months ended September 30, 2023, the company experienced a net loss of $5,371,869, which included $5,082,484 in expenses and $4,424,600 of interest income[136]. Stock and Shareholder Information - The company intends to provide holders of common stock of Pinstripes with an aggregate of 5 million shares of Class B common stock, subject to vesting conditions[132]. - A total of 20,151,313 shares of Class A common stock were redeemed at an approximate price of $10.42 per share[150]. - The Sponsor converted 2,000,000 shares of Class B common stock into Class A common stock, resulting in 5,998,687 shares of Class A and 5,245,000 shares of Class B outstanding[151]. Cash Management - The company has withdrawn $2,214,547 of interest earned from the Trust Account to pay taxes through September 30, 2023[143]. - The company does not believe it will need to raise additional funds to meet expenditures prior to the Initial Business Combination[145]. Fees and Obligations - The deferred underwriter fee was reduced from $9,660,000 to $3,622,500, as of September 30, 2023[156]. - The Company is contractually obligated to pay a monthly fee of $10,000 to an affiliate of the Sponsor for operational support[153]. - The Sponsor has permanently waived its right to receive certain fees from the Company for the three and nine months ended September 30, 2023[155]. Accounting Standards - The Company is assessing the impact of ASU No. 2020-06 on its financial position, results of operations, or cash flows[159].

Financial Position - As of June 30, 2023, the company had cash of $358,560 and a working capital deficit of $5,024,457[128]. - As of June 30, 2023, the Trust Account held treasury securities valued at $42,190,562, including approximately $1,173,738 in interest income[142]. - As of June 30, 2023, the Trust Account balance was $42,190,562 after an aggregate payment of $210,031,815.49 to redeeming holders of 20,151,313 shares of Class A common stock at approximately $10.42 per share[150]. - The Company has no long-term debt or off-balance sheet arrangements as of June 30, 2023, and has a contractual obligation to pay $10,000 monthly for office space and operational support[152][153]. Business Combination Plans - The company anticipates completing its Initial Business Combination with Pinstripes, Inc. in the fourth quarter of 2023, subject to stockholder approval and other closing conditions[131]. - The pre-money equity value of Pinstripes is set at $429,000,000, with an exchange ratio of 2.5 shares of company common stock for each share of Pinstripes common stock[132]. - The company expects to incur significant costs in pursuing its Initial Business Combination plans and does not anticipate generating operating revenues until after the completion of the business combination[128][133]. - The company may need additional financing to complete its Initial Business Combination or to address potential redemptions of public shares[146]. - The company has the option to extend the deadline for completing its Initial Business Combination to December 24, 2023[148]. Financial Performance - For the three months ended June 30, 2023, the company reported a net loss of $6,582,267, which included $3,207,927 in expenses and a $4,224,105 loss on the change in the fair value of warrant liabilities[134]. - The company generated gross proceeds of $241,500,000 from its Initial Public Offering, with a total of $246,330,000 placed in the Trust Account[139][141]. - The company has withdrawn $1,888,546 of interest earned from the Trust Account to pay taxes through June 30, 2023[142]. Fees and Obligations - The deferred underwriter fee was reduced from $9,660,000 to $3,622,500, which will be payable only upon the completion of an Initial Business Combination[154]. - A success fee of $4,000,000 will be paid to William Blair if the Initial Business Combination is consummated, with a placement fee of 5.00% on total transaction consideration for any securities offering[155]. - The Sponsor has permanently waived its right to receive monthly fees for the three and six months ended June 30, 2023, and expects to continue this waiver in future periods[153]. Share Structure - Following the conversion of 2,000,000 shares of Class B common stock to Class A common stock, there are now 5,998,687 shares of Class A and 5,245,000 shares of Class B common stock outstanding[151].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001- 41236 BANYAN ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 86-2556699 (Stat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-41236 BANYAN ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 86-2556699 (State or Other Jurisdiction of Incorporation) 400 Skokie ...

Financial Position - As of September 30, 2022, the company had cash of $585,550 and working capital of approximately $260,576[105]. - As of September 30, 2022, the Trust Account held treasury securities valued at $248,048,732, including approximately $1,709,000 of interest income[113]. - The company has no long-term debt or significant off-balance sheet arrangements as of September 30, 2022[118]. Income and Earnings - For the three months ended September 30, 2022, the company reported a net income of $2,281,306, driven by a $1,454,500 gain on the change in the fair value of warrant liabilities[108]. - For the nine months ended September 30, 2022, the company achieved a net income of $13,174,118, with a significant gain of $13,214,963 on the change in the fair value of warrant liabilities[109]. - The Company calculates net income per share for redeemable Class A common stock by dividing net income by the weighted average number of redeemable shares outstanding since original issuance[126]. - For non-redeemable Class B common stock, net income per share is calculated using the weighted average number of non-redeemable shares outstanding for the period[126]. - As of September 30, 2022, the Company had no dilutive securities or contracts that could convert into common stock and share in earnings[126]. Initial Public Offering - The company completed its Initial Public Offering on January 24, 2022, raising gross proceeds of $241,500,000 from the sale of 24,150,000 Units[111]. - Following the Initial Public Offering, a total of $246,330,000 was placed in the Trust Account, which includes $237,720,000 from the IPO proceeds[112]. - The underwriters are entitled to a deferred fee of $0.40 per Unit, totaling $9,660,000, which will be payable only upon the completion of an Initial Business Combination[120]. Business Operations - The company intends to use substantially all funds in the Trust Account to complete its Initial Business Combination[114]. - The company is contractually obligated to pay a monthly fee of $10,000 to an affiliate of its Sponsor for office space and operational support[119]. Accounting Standards - The Financial Accounting Standards Board issued ASU No. 2020-06, effective for fiscal years beginning after December 15, 2023, simplifying accounting for convertible instruments[127]. - ASU 2020-06 also simplifies the diluted earnings per share calculation in certain areas[127]. - The Company is currently assessing the impact of ASU 2020-06 on its financial position, results of operations, or cash flows[127]. - Management believes that no other recently issued accounting standards would materially affect the financial statements if adopted[129]. Market Risk Disclosures - Quantitative and qualitative disclosures about market risk are not required for smaller reporting companies[130].

Financial Position - As of June 30, 2022, the company had cash of $704,508 and working capital of approximately $671,021[106] - A total of $246,330,000 was placed in the Trust Account, which includes $237,720,000 from the Initial Public Offering and $8,610,000 from the sale of Private Placement Warrants[113] - As of June 30, 2022, the Trust Account held treasury securities valued at $246,749,249, including approximately $457,476 of interest income[114] - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2022[119] Income and Earnings - For the three months ended June 30, 2022, the company reported a net income of $1,450,175, which included a gain of $1,459,707 on the change in the fair value of warrant liabilities[109] - For the six months ended June 30, 2022, the company reported a net income of $10,892,813, with a gain of $11,760,463 on the change in the fair value of warrant liabilities[110] - The company’s net income per share for redeemable Class A common stock is calculated by dividing net income by the weighted average number of shares of Class A common stock subject to possible redemption[128] Initial Public Offering - The company completed its Initial Public Offering on January 24, 2022, raising gross proceeds of $241,500,000 from the sale of 24,150,000 Units[112] Trust Account Usage - The company intends to use substantially all funds in the Trust Account to complete its Initial Business Combination[115] Fees and Obligations - The company is contractually obligated to pay a monthly fee of $10,000 to an affiliate of its Sponsor for office space and operational support[120] - The underwriters are entitled to a deferred fee of $0.40 per Unit, totaling $9,660,000, which will be payable only upon the completion of an Initial Business Combination[121] Accounting and Controls - The Financial Accounting Standards Board issued ASU No. 2020-06, effective for fiscal years beginning after December 15, 2023, which simplifies accounting for convertible instruments and may impact the company’s financial position[129] - Management does not anticipate that any recently issued accounting standards will materially affect the financial statements[130] - The company evaluated its disclosure controls and procedures as of June 30, 2022, concluding they were effective[133] - There have been no changes in internal control over financial reporting during the fiscal quarter ended June 30, 2022, that materially affected internal controls[135]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001- 41236 BANYAN ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 86-2556699 (State ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-41236 BANYAN ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 86-2556699 (State or Other Jurisdiction of Incorporation) 400 Skokie Blvd Suite 820 No ...