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Pioneer Acquisition I Corp Raises $220M in Initial Public Offering.
ByAinvest
Friday, Jun 20, 2025 5:29 pm ET1min read
Pioneer Acquisition I Corp has priced its initial public offering of 22 million units at $10 each, raising $220 million. The units, which consist of one Class A ordinary share and one-half of a redeemable warrant, are expected to be listed on the Nasdaq Global Market under the ticker symbol "PACHU" starting June 18, 2025. The underwriter has an option to purchase an additional 3.3 million units within 45 days.
Pioneer Acquisition I Corp (PACHU) has successfully completed its initial public offering (IPO), raising $220 million by selling 22 million units at $10 each. The company's units, which consist of one Class A ordinary share and one-half of a redeemable warrant, began trading on the Nasdaq Global Market under the ticker symbol "PACHU" on June 18, 2025. The underwriter has the option to purchase an additional 3.3 million units within 45 days [1].Pioneer Acquisition I Corp is structured as a Cayman Islands exempted company and is a blank check company, which means it is seeking acquisition targets. The successful raising of $220 million provides the company with significant capital to pursue potential acquisition targets. However, investors should note that like all Special Purpose Acquisition Companies (SPACs), there is no guarantee of finding a suitable business combination within the typical two-year timeframe [1].
The IPO launch is a significant milestone for the company, and investors are watching for announcements regarding potential acquisition targets in the coming months. The units will later separate into shares (PACH) and warrants (PACHW) and trade separately on Nasdaq [1].
The underwriting was led by Cantor Fitzgerald as the sole book-running manager, with Odeon Capital Group LLC serving as co-manager. The offering closed on June 20, 2025, marking a brief window for investors to participate [2].
References:
[1] https://www.stocktitan.net/news/PACHU/pioneer-acquisition-i-corp-announces-closing-of-253-000-000-initial-4c3jz870tiny.html
[2] https://www.gurufocus.com/news/2933061/pioneer-acquisition-i-corp-pachu-launches-ipo-at-10-per-unit
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