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

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

An inside look at Stanford's mental health innovation course - Business InsiderAn inside look at Stanford's one-of-a-kind course on mental health innovation, where students mingle with industry experts and develop business plans aimed at revolutionizing the healthcare industry (by AnikaNayak)
Source: BusinessInsider - 🏆 729. / 51 Read more »

US banks seek guidance on PPP loan forgiveness - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Facebook drops censorship tools for Workplace - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. So deleteFacbook Ohhhh you can’t because you love being in everyone’s business.... 😂
Source: BusinessInsider - 🏆 729. / 51 Read more »

31 top executives at Omnicom, the most valuable ad holding company - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Why companies like GitHub are dropping terms like 'master' and 'slave' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. more like performative. What the wow, didn't know they exist. America is truly racist.
Source: BusinessInsider - 🏆 729. / 51 Read more »