MMCAP International Inc. SPC Invests $7.50 Million in Pioneer Acquisition I Corp $PACHU

MMCAP International Inc. SPC acquired a new stake in shares of Pioneer Acquisition I Corp (NASDAQ:PACHU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 750,000 shares of the company’s stock, valued at approximately $7,504,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deltec Asset Management LLC bought a new position in shares of Pioneer Acquisition I during the 2nd quarter valued at approximately $100,000. Timelo Investment Management Inc. purchased a new stake in Pioneer Acquisition I during the second quarter valued at $600,000. Gritstone Asset Management LLC purchased a new stake in Pioneer Acquisition I during the second quarter valued at $700,000. Syquant Capital Sas bought a new position in Pioneer Acquisition I during the second quarter valued at $1,101,000. Finally, Wolverine Asset Management LLC bought a new position in Pioneer Acquisition I during the second quarter valued at $2,762,000.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Pioneer Acquisition I from a “hold” rating to a “sell” rating in a report on Saturday, August 16th.

Pioneer Acquisition I Stock Up 0.7%

Shares of NASDAQ:PACHU opened at $10.25 on Friday. The company’s 50 day simple moving average is $10.07. Pioneer Acquisition I Corp has a 1 year low of $9.70 and a 1 year high of $10.39.

Pioneer Acquisition I Company Profile

We are a blank check company incorporated as an exempted company under the laws of the Cayman Islands on August 28, 2024, which will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination.