Wolverine Asset Management LLC Makes New Investment in Pioneer Acquisition I Corp. $PACH

Wolverine Asset Management LLC acquired a new stake in shares of Pioneer Acquisition I Corp. (NASDAQ:PACH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 677,208 shares of the company’s stock, valued at approximately $6,731,000.

Separately, Deltec Asset Management LLC acquired a new stake in shares of Pioneer Acquisition I during the third quarter worth $99,000.

Pioneer Acquisition I Stock Up 0.1%

NASDAQ PACH opened at $10.10 on Friday. The stock has a 50 day moving average of $10.10. Pioneer Acquisition I Corp. has a 52-week low of $9.94 and a 52-week high of $10.16.

Analyst Upgrades and Downgrades

Several brokerages have commented on PACH. Wall Street Zen cut shares of Pioneer Acquisition I from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pioneer Acquisition I in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Pioneer Acquisition I 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.