NEW YORK, June 25, 2021 /PRNewswire/ Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm ratedÂ
Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating
 Pioneer Merger Corp. ( PACX or the Company ) (PACX) relating to its proposed merger with Acorns Grow, Inc. Under the terms of the agreement, PACX will acquire Acorns through a reverse merger, with Acorns emerging as a publicly traded company.
The investigation focuses on whether Pioneer Merger Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.
Acorns is going public via a $2.2 billion SPAC to accelerate its user acquisition growth–and this won't be the last investing app going public this year.
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Last week featured six announced SPAC deals. The week also had earnings from several well-known former SPACs.
Here s a look back at the week that was SPACs for deals, rumors and headline news all covered on Benzinga’s “SPACs Attack.”
SPAC Deals
Financial industry savings and investing app Acorns Group is going public in a SPAC merger with
Pioneer Merger Corp (NASDAQ: PACX) valuing the company at $2.2 billion. Investors in Acorns Group include PayPal Holdings (NASDAQ: PYPL),
BlackRock Inc (NYSE: BLK), Ashton Kutcher, Jennifer Lopez and Dwayne “The Rock” Johnson.
Acorns in the largest subscription-based service for financial services with more than four million members. The company offers subscription based pricing ranging from $1 to $5 a month. The company plans on expanding its pricing tiers, offering portfolio customization and exploring strategic M&A to grow going forward. Acorns had revenue of $71 million in 2020 and is guiding for revenue to hit $126 m
/PRNewswire/ Moore Kuehn, PLLC, a law firm focusing in securities litigation located on Wall Street in downtown New York City, is investigating potential.