Bill Ackman's 'blank check' company is looking to raise $6.45 billion - Business Insider

company is seeking to raise as much as $6.45 billion, in a combination of an initial public offering with investments from Pershing Square Holdings.

The company, called Pershing Square Tontine Holdings, is a special-purpose acquisition company "formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses,"The company aims to raise as much as $3 billion from outside investors through an initial public offering, according to the filing.

In addition to the IPO, funds associated with Pershing Square Holdings will purchase between $1 billion and $3 billion in shares, the regulatory document says. In the filing, Pershing Square Tontine Holdings does not specify what sectors it will be targeting going forward. House-flipping was at its highest level since 2006 before the coronavirus hit. Here's what flippers should know about investing now.

The deal could be worth as much as $6.45 billion "assuming the additional forward purchase is consummated in full and the underwriters' over-allotment is exercised in full and assuming no redemptions of the Class A common stock," the filing said. Citigroup, Jefferies, and UBS are the joint book-running managers on the deal, according to the filing.

"We will have the largest amount of committed capital of any blank check company upon the completion of this offering," the company said.

Great! Which company’s shares are up for ‘attempted’ manipulation, next?

Stonks only go up! inverselogic wallstreet MondayVibes

I can’t wait until he buys my Sanitation-as-a-Service robo-taxi cleaning company. We’re pre-revenue but taking deposits now

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