Pioneer Merger, a blank check company formed by Falcon Edge Capital and Patriot Global Management, raised $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50.
The company is led by Chairman Jonathan Christodoro, the CIO and President of Patriot Global Management; Co-President Rick Gerson, founder and CIO of Falcon Edge Capital; Co-President and Director Oscar Salazar, who previously co-founded and served as CTO of Pager; and CEO Ryan Khoury, co-founder and Partner at Falcon Edge Capital. The company plans to target businesses that are potential industry disruptors or innovators in a growth market, specifically focusing on technology and consumer sectors.
Pioneer Merger plans to list on the Nasdaq under the symbol PACXU. Citi acted as a lead manager on the deal.
