Top 5 SPACs to Buy According to Richard Gerson’s Falcon Edge Capital

4. Pioneer Merger Corp. (NASDAQ:PACXU)

Falcon Edge Capital’s Stake Value: $44.099 million

Percent of Falcon Edge Capital’s Portfolio: 2.81%

Number of Hedge Fund Holders: N/A

Pioneer Merger Corp. (NASDAQ:PACXU) is incorporated in Cayman Islands and works as a special purpose acquisition company for affecting a merger, asset acquisition, share purchase, and reorganization. The Chairman of the company is Jonathan Christodoro, and the CEO of Pioneer Merger Corp. (NASDAQ:PACXU) is Ryan Khoury. The company is sponsored by Patriot Global Management and an affiliate of Falcon Edge Capital.

Pioneer Merger Corp. (NASDAQ:PACXU) went public on January 07, 2021, and raised around $402 million by offering IPO. The company aims to acquire businesses with rapid growth potential. On May 27, 2021, the company signed a definitive agreement to merge with Acorns Grow Inc. in the second half of 2021.

Acorns Grow Inc. provides services in the fintech and investment industry and has more than 4 million customers on its mobile application, which are projected to increase to 10 million by 2025. Acorns Grow Inc. generated revenue of $71 million in 2020, increasing from $44 million the last year. Upon merger, the entity will go public with a value of around $2.2 billion.

As of the second quarter of 2021, Falcon Edge Capital holds 4.5 million shares of the company worth $44.099 million. Pioneer Merger Corp. (NASDAQ:PACXU) represents 2.81% of Falcon Edge Capital’s portfolio of 13F securities. With this, Pioneer Merger Corp. (NASDAQ:PACXU) ranks fourth on our list of top 10 SPACs to buy according to Richard Gerson’s Falcon Edge Capital.