Pioneer Acquisition I Corp Warrant (each warrant exercisable for one Class A ordinary share at $11.50 per share)

Pioneer Acquisition I Corp Warrant is a derivative security issued by a special purpose acquisition company (SPAC), facilitating the purchase of Pioneer Acquisition I Corp’s Class A ordinary shares at a fixed exercise price. Each whole warrant grants the holder the right to buy one Class A ordinary share at $11.50 per share, with the terms set to allow for adjustments under specific circumstances. The warrants became separately tradable from the original units on August 15, 2025, after an initial period during which they were bundled with ordinary shares in the company's public offering. These warrants play a pivotal role in the SPAC’s capital structure, offering investors leveraged exposure to the potential appreciation of the company’s share price following its planned business combination—typically a merger, acquisition, or similar transaction. No fractional warrants are issued, and only whole warrants can be exercised or traded, reflecting standard practice for such SPAC instruments. The existence of these warrants provides greater flexibility for investors to speculate on, or hedge against, the company’s future success in completing a value-accretive transaction. Pioneer Acquisition I Corp Warrant thus serves as both a financial incentive for early backers of the SPAC and a liquid instrument in the secondary market while the SPAC seeks an appropriate target for combination.