UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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The Stock Market LLC | ||||
The
| ||||
The Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 8.01 Other Events.
On December 15, 2022, Pioneer Merger Corp., a Cayman Islands exempted company (the “Company”), decided that it will redeem all of its outstanding Class A ordinary shares, effective as of January 13, 2023, because the Company’s Board of Directors has concluded that the Company will not be able consummate an initial business combination within the time period required by its Amended and Restated Memorandum and Articles of Association. As previously disclosed in its periodic reports filed with the Securities and Exchange Commission, if the Company does not complete an initial business combination, upon redemption of the Class A ordinary shares the Company will distribute, on account of each Class A ordinary share, such share’s pro rata portion of the Company’s trust account (after permitted withdrawals) and no other amounts. Based on the balance of the Company’s trust account as of December 15, 2022, such amount per share is expected to be $10.10 plus interest accrued through January 12, 2022. Upon such redemption, the rights as shareholders of the Class A ordinary shares will completely extinguish.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PIONEER MERGER CORP. | ||
By: | /s/ Ryan Khoury | |
Name: Ryan Khoury | ||
Title: Chief Executive Officer | ||
Dated: December 15, 2022 |