MMCAP International Inc. SPC Purchases Shares of 750,000 Pioneer Acquisition I Corp. $PACH

MMCAP International Inc. SPC purchased a new stake in shares of Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 750,000 shares of the company’s stock, valued at approximately $7,538,000. MMCAP International Inc. SPC owned about 2.37% of Pioneer Acquisition I as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. ABC Arbitrage SA purchased a new stake in shares of Pioneer Acquisition I during the fourth quarter valued at about $251,000. Centiva Capital LP acquired a new position in shares of Pioneer Acquisition I during the third quarter valued at about $497,000. Gritstone Asset Management LLC acquired a new position in shares of Pioneer Acquisition I during the third quarter valued at about $690,000. Boothbay Fund Management LLC acquired a new position in shares of Pioneer Acquisition I during the third quarter valued at about $830,000. Finally, ATW Spac Management LLC acquired a new position in shares of Pioneer Acquisition I during the third quarter valued at about $831,000.

Pioneer Acquisition I Stock Performance

PACH opened at $10.20 on Wednesday. Pioneer Acquisition I Corp. has a 52-week low of $9.94 and a 52-week high of $10.22. The firm’s 50-day moving average price is $10.18 and its 200-day moving average price is $10.13.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Pioneer Acquisition I Company Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.