Recent Updates — PACHW

Pioneer Acquisition I Corp entered into a definitive Business Combination Agreement with Green AI Cloud, Inc., proposing to combine the SPAC and the target company. The transaction values Green AI Cloud at a pre-money equity value of $300 million and implies a pro forma enterprise value of approximately $525 million, assuming no redemptions by Pioneer public shareholders. Under the terms, Green AI Cloud will merge into a subsidiary of Pioneer, with Pioneer re-domiciling from the Cayman Islands to Delaware. The combined entity is expected to list on Nasdaq and close in the second quarter of 2027, subject to customary conditions including shareholder approval and regulatory clearances. Pioneer Acquisition I Corp operates as a blank check company formed for effecting a business combination with one or more businesses.

On June 22, 2026, Pioneer Acquisition I Corp appointed Adeel Rouf as an independent director and member of the Audit Committee, effective immediately. Mr. Rouf brings extensive experience in the SPAC sector, having previously served as CFO and Director of Titan Acquisition Corp and CEO of Voyager Acquisition Corp. He will receive no cash or non-cash compensation for his service prior to the company's initial business combination. The company is a special purpose acquisition company (SPAC) designed to effect a business combination.