Pioneer Acquisition I enters business combination agreement with Green Ai Cloud
PACH•Pioneer Acquisition I agreed to combine with Green Ai Cloud, valuing the company at a $300 million pre-money equity value and implying an approximately $525 million pro forma enterprise value. Green Ai Cloud plans to list on Nasdaq, and proceeds are intended to support data center development and potential acquisitions.
1. Deal terms
Pioneer Acquisition I and Green Ai Cloud entered into a business combination agreement. The deal values Green Ai Cloud at a $300 million pre-money equity value and implies an approximately $525 million pro forma enterprise value.
2. Combined company plans
Green Ai Cloud management will continue leading the combined company, and Pioneer shareholders will roll over 100% of their equity. Green Ai Cloud is to list on Nasdaq, with proceeds intended to support development at existing and new data center sites and potential acquisitions.
