Sona Asset Management US LLC Acquires New Holdings in Pioneer Acquisition I Corp. $PACH

Sona Asset Management US LLC bought a new position in Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 111,059 shares of the company’s stock, valued at approximately $1,125,000.

A number of other large investors have also recently added to or reduced their stakes in PACH. BNP Paribas Financial Markets bought a new position in shares of Pioneer Acquisition I in the third quarter valued at approximately $3,066,000. Two Sigma Investments LP bought a new stake in shares of Pioneer Acquisition I during the 3rd quarter worth $7,927,000. Virtu Financial LLC bought a new stake in shares of Pioneer Acquisition I during the 3rd quarter worth $2,596,000. AQR Arbitrage LLC acquired a new position in Pioneer Acquisition I in the 3rd quarter valued at $9,787,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in Pioneer Acquisition I in the 3rd quarter worth $5,976,000.

Pioneer Acquisition I Price Performance

Shares of NASDAQ PACH opened at $10.27 on Monday. The business’s 50 day moving average is $10.24 and its two-hundred day moving average is $10.18. Pioneer Acquisition I Corp. has a 12 month low of $9.94 and a 12 month high of $10.29.

Pioneer Acquisition I (NASDAQ:PACH) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.06 earnings per share for the quarter.

Analyst Upgrades and Downgrades

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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Pioneer Acquisition I has a consensus rating of “Sell”.

About Pioneer Acquisition I

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.