Pioneer Acquisition I agrees to merge with Green AI Cloud in deal valuing target at $300 million
PACH•Green AI Cloud agreed to merge with Pioneer Acquisition I Corp. in a deal valuing Green AI Cloud at a pre-money equity value of $300 million and implying a pro forma enterprise value of about $525 million, assuming no redemptions. Closing is expected in the second quarter of 2027, subject to shareholder approval and other customary conditions.
1. Deal terms
The merger would take Sweden-based AI data center developer Green AI Cloud public on Nasdaq. Proceeds are earmarked for developing AI-ready data center sites in Sweden, expanding into new sites and potential acquisitions.
