Ghisallo Capital Management LLC Buys New Stake in Pioneer Acquisition I Corp. $PACH

Ghisallo Capital Management LLC purchased a new stake in shares of Pioneer Acquisition I Corp. (NASDAQ:PACH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 250,000 shares of the company’s stock, valued at approximately $2,485,000. Ghisallo Capital Management LLC owned 0.79% of Pioneer Acquisition I as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PACH. Wolverine Asset Management LLC acquired a new position in shares of Pioneer Acquisition I in the third quarter worth about $6,731,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Pioneer Acquisition I during the 3rd quarter valued at about $5,895,000. Picton Mahoney Asset Management purchased a new position in shares of Pioneer Acquisition I in the 3rd quarter valued at about $4,975,000. Mangrove Partners IM LLC purchased a new position in shares of Pioneer Acquisition I in the 3rd quarter valued at about $4,482,000. Finally, BNP Paribas Financial Markets acquired a new position in Pioneer Acquisition I in the 3rd quarter worth about $3,066,000.

Pioneer Acquisition I Trading Down 0.1%

Shares of NASDAQ PACH opened at $10.18 on Friday. The company’s 50-day simple moving average is $10.11 and its 200-day simple moving average is $10.06. Pioneer Acquisition I Corp. has a 52-week low of $9.94 and a 52-week high of $10.19.

Analyst Upgrades and Downgrades

PACH has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Pioneer Acquisition I from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (e)” rating on shares of Pioneer Acquisition I in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus 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.