. He also committed to put up to $3 billion of his firm's own funds into the SPAC, potentially bringing the company's total value to $7 billion.
Now that the SPAC is public, its goal is to merge with a private company to take it public. Ackman has been down this road before — his fund Pershing Square Capital in 2011 helped Justice Holdings raise $1.4 billion, which it used the next year to merge with Burger King Worldwide and take it public.
A previous regulatory filing for the fund said that it will focus on pursuing merger opportunities with private, large capitalization, high-quality, growth companies, or so-called "mature unicorns." Going public through a SPAC is increasing in popularity amid market volatility this year due to the coronavirus pandemic. So far in 2020, 47 SPACs have held IPOs, raising gross proceeds of $18.3 billion, according toGet your daily markets analysis with our Markets newsletter. Sign up now.
I love how a company with no concrete plan or income stream can climb 9% on speculation alone. Speaks to a true bubble in risk assets.
हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
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