Small toy figures are seen in front of diplayed Airbnb logo in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration
The approach by Ackman’s Pershing Square Tontine Holdings Ltd PSTH_u.N underscores the scale and ambition of the types of deals Ackman is pursuing with the new vehicle, which raised $4 billion through an IPO on the New York Stock Exchange earlier this year to buy a private company. A deal for Airbnb at the company’s roughly $18 billion valuation in a debt deal earlier this year would be the largest SPAC transaction ever.Merging with a SPAC has emerged in recent months as an increasingly popular alternative to an IPO. The likes of sports betting platform DraftKings Inc and electric vehicle maker Nikola Corp have gone public this year through reverse mergers with SPACs.
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fine with me. i wouldn't want airbnb inside this spac. would have to sell my shares at that point
Is not really a blank check is it now?
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