Lineage Point Capital LP Purchases New Position in Pioneer Acquisition I Corp. $PACH

Lineage Point Capital LP purchased a new stake in Pioneer Acquisition I Corp. (NASDAQ:PACH) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 106,805 shares of the company’s stock, valued at approximately $1,073,000. Lineage Point Capital LP owned approximately 0.34% of Pioneer Acquisition I as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PACH. PenderFund Capital Management Ltd. bought a new stake in Pioneer Acquisition I during the 4th quarter worth about $175,000. L1 Global Manager Pty Ltd bought a new stake in shares of Pioneer Acquisition I during the 4th quarter valued at $245,000. ABC Arbitrage SA acquired a new position in shares of Pioneer Acquisition I in the 4th quarter valued at $251,000. Stoic Point Capital Management LLC acquired a new position in shares of Pioneer Acquisition I in the 4th quarter valued at $339,000. Finally, Radcliffe Capital Management L.P. boosted its holdings in Pioneer Acquisition I by 6.2% during the fourth quarter. Radcliffe Capital Management L.P. now owns 629,247 shares of the company’s stock worth $6,324,000 after buying an additional 36,772 shares during the last quarter.

Pioneer Acquisition I Price Performance

Shares of PACH opened at $10.23 on Friday. Pioneer Acquisition I Corp. has a twelve month low of $9.94 and a twelve month high of $10.25. The company has a 50 day moving average of $10.20 and a 200-day moving average of $10.14.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pioneer Acquisition I 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.