Financial Position - As of September 30, 2025, the company had cash of $820,826 and working capital of $803,426, indicating a need for significant costs in pursuing acquisition plans [112]. - The net proceeds from the IPO and private placement, after expenses, amounted to $254,425,000, with $253,000,000 deposited into a trust account [124]. - The company expects to incur approximately $150,000 for legal and accounting expenses related to business combinations and $320,000 for administrative services [129]. - The funds in the trust account will be invested in U.S. government treasury bills or money market funds, with interest expected to cover tax obligations [125][126]. - The company may need to raise additional funds if costs for identifying and negotiating a business combination exceed current estimates [131]. IPO and Fundraising - The company completed its IPO on June 20, 2025, raising gross proceeds of $253,000,000 from the sale of 25,300,000 units at $10.00 per unit, including 3,300,000 units from the underwriters' over-allotment option [117][122]. - The private placement of 6,400,000 warrants generated an additional $6,400,000, with each warrant allowing the purchase of one Class A ordinary share at $11.50 [117][123]. Operational Status - The company has not engaged in any operations or generated revenues to date, with activities limited to organizational efforts and evaluating potential acquisition targets [119]. Income and Expenses - For the three months ended September 30, 2025, the company reported a net income of $2,380,594, primarily from net interest income of $2,678,640 [120]. Regulatory Environment - The SEC's 2024 SPAC Rules may materially affect the company's ability to negotiate and complete its initial business combination, increasing costs and time [114].
Pioneer Acquisition I Corp Unit(PACHU) - 2025 Q3 - Quarterly Report