Welcome to the Pioneer Merger Corp. Settlement Website.

This website provides information about the proposed class action settlement (the “Settlement”) in Funicular Funds, LP v. Pioneer Merger Corp., Civil Action No. 22-10986-JSR (the “Action”), which is currently pending in the United States District Court for the Southern District of New York (the “Court”). The Settlement would resolve claims on behalf of holders of Class A common stock of Pioneer Merger Corp. (“Pioneer”) arising from the distribution of Pioneer’s residual assets.

The information contained on this website is a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Settlement Notice”). You should review the Settlement Notice for additional details regarding the Settlement and payments thereunder.

As further described in the Settlement Notice, the Settlement consists of a cash payment of $13,000,000 and a contingent payment of 80% of any proceeds paid pursuant to an insurance policy covering certain defendants. The Settlement was negotiated by the Court-appointed Lead Plaintiff Funicular Funds, LP (“Lead Plaintiff”) and resolves all claims in the Action.

The Settlement applies to all persons who held Class A Public Shares of Pioneer as of the redemption date of January 13, 2023 whose shares were redeemed, including their legal representatives, heirs, successors-in-interest, transferees, and assignees of all such holders (the “Class”).

The Court will consider whether to finally approve the proposed Settlement and the payments thereunder at a hearing on May 28, 2024, at 3:00 p.m. ET.

If you are a member of the Class, your rights will be affected by the pending Action and the Settlement whether or not you take action. Please read the Settlement Notice carefully to fully understand your rights.