Pioneer Acquisition I CorpPACH
Cash in trust
$263M
$262,905,960
Trust per share
$10.39
Redemption value
IPO
Jun 2025
$253M raised
Combination deadline
Jun 20, 2027
248 days remaining
Filings on record
46
Latest Oct 14, 2026
Business combination
- Target
- Not disclosed in an indexed filing
- Announced
- Oct 9, 2026
Overview
Pioneer Acquisition I Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002040381. It completed its initial public offering in Jun 2025, raising $253M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker PACH, units under PACHU, warrants under PACHW on Nasdaq. The vehicle is sponsored by Pioneer through Pioneer Acquisition 1 Sponsor Holdco LLC. The mandate targets healthcare. Definitive business-combination agreement signed, closing pending.
“we intend to focus on industries that complement our management team's and board of director's background and network, and to capitalize on the ability of our management team and board of directors to identify and acquire a business, focusing on the healthcare or healthcare related industries.”
Reading the filings
Arithmetic on what Pioneer Acquisition I Corp has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.
Trading at a discount to trust
At $10.37 the shares sit within a point of the $10.39 redemption value, so the market is pricing the cash and little else.
Trust versus the $10 unit
The trust holds $10.39 per public share, 3.9% above the $10.00 the units were sold at. That spread is accrued interest on the trust and, where the charter provides for it, sponsor contributions paid in to buy more time. It is the floor a public shareholder can redeem at, not a valuation of the business.
Time on the clock
248 days to the Jun 20, 2027 deadline. The vehicle is early in its search window, and the deadline is not yet the binding constraint.
Sponsor promote
The sponsor's founder block is 6,325,000 shares against 25,300,000 public shares, or 20.0% of the combined count, acquired before the IPO at nominal cost. That promote is the structural dilution every public shareholder carries into a combination, and it is why the economics of a de-SPAC differ so sharply from a conventional IPO.
Warrant coverage
Each unit carried one-half of one warrant per unit. Warrants are dilution deferred: they cost the holder nothing until exercised, and they overhang the post-combination share count. Thinner coverage is generally a sign of a stronger book at pricing.
Underwriting
Cantor Fitzgerald led the offering. It has been named on 114 SPAC IPOs, book-running 101 of them, and 52.5% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.
From listing to the date Pioneer Acquisition I Corp must close a deal, extend again, or return the trust. The marker is today.
Filings per month since the first one. A vehicle that has gone quiet with a deadline ahead is a different proposition from one that is still working.
46 filings in all. 4 in the last three months, against a busiest month of 18.
Scores
Recomputed 11m agoThree readings of Pioneer Acquisition I Corp, each an unweighted mean of the components shown beneath it, and each component a percentile against every live SPAC rather than an absolute we invented. They describe the setup, not the merit. How they are built
Edge
ElevatedHow much does the structure protect a holder right now?
52/100
- Discount to trust44
0.21%
- Trust accretion65
$10.39 per share
- Runway48
248 days
Edge reads the setup, not the business. A vehicle can score well on protection and still be a poor place to leave money once a deal closes.
FOMO
ElevatedHow much attention is this vehicle attracting right now?
72/100
- Filing activity64
3 in 30 days
- News coverage75
3 stories in 30 days
- News tone65
positive
- Premium to trust57
-0.21%
- Deal freshness98
announced 6 days ago
Attention is not quality. FOMO rises on news volume and on the market paying above trust, both of which have preceded plenty of disappointments.
Potential
HighHow likely is this vehicle to complete a combination, and at what scale?
80/100
- Lead bank record67
52.5%
- Bank franchise85
114 SPAC mandates
- Trust scale84
$263M
- Stage85
definitive agreement signed
Potential is about execution, not about the target. It says nothing about whether the eventual deal is worth owning, because the target is usually unknown when the score is computed.
These are derived measures, not ratings of investment merit. They carry no view on the target, no price target and no recommendation, and a high score is not a reason to buy anything.
News on Pioneer Acquisition I Corp
Last 90 daysNews sentiment
NeutralAcross 1 recent story, weighted towards the newest. Scored by our own headline classifier using finance- and SPAC-specific terms. It reads what a story is about, not what the shares are worth.
SEC filing history
Free tier: filings older than 24 hours- 425
Business-combination communication
Accession 0001829126-26-011097
- 8-K
Entry into a material definitive agreement; Regulation FD disclosure
Items 1.01, 7.01, 9.01 · Accession 0001829126-26-011096
- 425
Business-combination communication
Accession 0001829126-26-010911
- 10-Q
Quarterly report
Accession 0001829126-26-008887
- 8-K
Current report
Item 5.02 · Accession 0001829126-26-006778
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001104659-26-062470
- 10-Q
Quarterly report
Accession 0001829126-26-005293
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001140361-26-021485
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001076809-26-000052
- 10-K/A
10-K/A
Accession 0001829126-26-003349
- 10-K
Annual report
Accession 0001829126-26-002737
- 10-Q
Quarterly report
Accession 0001829126-25-009148
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0000312069-25-000613
- SCHEDULE 13G/A
Amended beneficial ownership report (passive)
Accession 0001167557-25-000031
- 10-Q
Quarterly report
Accession 0001829126-25-006316
- SCHEDULE 13G
Beneficial ownership report (passive)
Accession 0001085146-25-004981
- 8-K
Other events
Items 8.01, 9.01 · Accession 0001829126-25-006115
- 8-K
Other events
Items 8.01, 9.01 · Accession 0001829126-25-004732
- 8-K
Entry into a material definitive agreement; Other events
Items 1.01, 3.02, 8.01, 9.01 · Accession 0001829126-25-004628
- 424B4
Final IPO prospectus
Accession 0001829126-25-004601
- CERT
Exchange listing certification
Accession 0001354457-25-000545
- EFFECT
Notice of effectiveness
Accession 9999999995-25-001949
- 3
Initial statement of beneficial ownership
Accession 0001829126-25-004569
- 3
Initial statement of beneficial ownership
Accession 0001829126-25-004568
- 3
Initial statement of beneficial ownership
Accession 0001829126-25-004567
- 3
Initial statement of beneficial ownership
Accession 0001829126-25-004566
- 3
Initial statement of beneficial ownership
Accession 0001829126-25-004565
- 8-A12B/A
8-A12B/A
Accession 0001829126-25-004564
- 8-A12B
Registration of securities on an exchange
Accession 0001829126-25-004551
- S-1/A
S-1/A
Accession 0001829126-25-004506
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Pioneer Acquisition I Corp: questions answered
What is Pioneer Acquisition I Corp (PACH)?
Pioneer Acquisition I Corp is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002040381. It completed its initial public offering in Jun 2025, raising $253M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker PACH, units under PACHU, warrants under PACHW on Nasdaq. The vehicle is sponsored by Pioneer through Pioneer Acquisition 1 Sponsor Holdco LLC. The mandate targets healthcare. Definitive business-combination agreement signed, closing pending.
How much does Pioneer Acquisition I Corp hold in trust?
Approximately $262,905,960, or about $10.39 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.
When must Pioneer Acquisition I Corp complete a merger?
By Jun 20, 2027. If no combination closes by then the sponsor must seek a further extension or wind the vehicle up and return the trust.
What happens if Pioneer Acquisition I Corp does not find a target in time?
The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.
Can I redeem shares in Pioneer Acquisition I Corp, and at what price?
Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $10.39 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.
What tickers does Pioneer Acquisition I Corp trade under?
Class A shares trade as PACH on Nasdaq, the units as PACHU, and the warrants as PACHW. Units trade first and separate into their component securities roughly 52 days after the IPO; only the Class A shares carry the redemption right against the trust.
Is the trust value the same as the share price for Pioneer Acquisition I Corp?
No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $10.39, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $10.37, a discount of 0.21% to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.
How much dilution do Pioneer Acquisition I Corp's founder shares and warrants create?
The founder block is 6,325,000 shares against 25,300,000 public shares, so roughly 20.0% of the combined count sits with the sponsor at nominal cost. Each unit also carried one-half of one warrant per unit, which is dilution deferred until exercise. Both are disclosed in the prospectus and both survive into the combined company, which is why a de-SPAC at $10 is not economically the same as an IPO at $10.
Who sponsors Pioneer Acquisition I Corp, and what is their track record?
Pioneer Acquisition 1 Sponsor Holdco LLC is the sponsor entity, part of the Pioneer franchise. This is the only vehicle we have attributed to that sponsor. Named principals: Mitchell Creem.
Which banks underwrote the Pioneer Acquisition I Corp IPO?
Cantor Fitzgerald, Odeon Capital. Cantor Fitzgerald was credited as book-running manager on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.
Is Pioneer Acquisition I Corp tradeable, and where?
Yes. PACH returned a live quote of $10.37 on Nasdaq. Quotes here are delayed and refreshed on a schedule rather than streamed, so treat the figure as indicative and confirm on your own venue. Units and warrants trade under their own symbols and are quoted separately.
Is Pioneer Acquisition I Corp a good investment?
That is not a question this site answers. Pioneer Acquisition I Corp is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.
Where does this Pioneer Acquisition I Corp data come from?
Filings Pioneer Acquisition I Corp submitted to the SEC under CIK 0002040381: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.
Compiled by the SPACListing research desk
Last reconciled Oct 15, 2026
Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.
Read the full methodology · What is in the dataset · Report a correction
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Continue reading
The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.
Pioneer: the full record
Every vehicle this sponsor has launched, what closed, what liquidated and what is still live.
Cantor Fitzgerald in SPACs
Mandates, bookrun credit, deal volume and the outcome of the vehicles it priced.
Healthcare SPACs
Every vehicle chasing the same mandate, ranked by cash in trust.
All spacs with an announced deal
Definitive business-combination agreement signed, closing pending.
Deadline calendar
Which sponsors are running out of time, and when the extension votes land.
What is a SPAC?
The structure, the economics and where the risks actually sit.
SPAC glossary
Every term in a blank-check filing, defined the way practitioners use it.
How this data is built
Coverage universe, ingestion, normalisation, lifecycle classification and known limits.