{"id":13105,"date":"2020-06-23T00:57:00","date_gmt":"2020-06-22T21:57:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bill-ackman-wants-blank-check-ipo-of-up-to-6-5-billion\/"},"modified":"2020-06-23T00:57:00","modified_gmt":"2020-06-22T21:57:00","slug":"bill-ackman-wants-blank-check-ipo-of-up-to-6-5-billion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bill-ackman-wants-blank-check-ipo-of-up-to-6-5-billion\/","title":{"rendered":"#Bill Ackman wants blank-check IPO of up to $6.5 billion"},"content":{"rendered":"

“#Bill Ackman wants blank-check IPO of up to $6.5 billion<\/strong>”<\/p>\n

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June 22, 2020 |<\/span> 5:57pm <\/p>\n

\n Enlarge Image<\/p>\n

\"Bill<\/img>
\n Pershing Square CEO Bill Ackman<\/span>
\n Bloomberg via Getty Images<\/span><\/p><\/div>\n

\n Join the New York Post and Mansion Global for a live conversation on how COVID-19 has affected top real estate markets in the US, Friday, 6\/26 @ 12 p.m. EST. Register here.<\/p><\/div>\n
\n Bill Ackman wants $6.5 billion to go unicorn hunting.<\/p>\n

In regulatory filing on Monday, the billionaire hedge fund manager announced new plans for his \u201cblank-check IPO,\u201d including efforts to raise $3 billion to $6.5 billion \u2014 up from $1 billion. Ackman, 54, also revealed plans to use the money to go after \u201cmature unicorns,\u201d which the document seemed to define as privately held, venture capital-backed, revenue-generating startups valued at more than a billion dollars.<\/p>\n

\u201cOver the past decade, numerous high-quality, venture-backed businesses have achieved significant scale, market share, competitive dominance and cash flow \u2014 we call these companies \u2018mature unicorns,\u2019\u201d the document said.<\/p>\n

Ackman, founder and CEO of Pershing Square Capital, said he\u2019s targeting privately held unicorns because their funding options are more likely to be limited than publicly traded companies during the pandemic. The filing notes, for example, that some private equity and venture capital firms may be eager to sell their stakes in good companies in a desperate bid for cash simply because the coronavirus has wreaked havoc on their portfolios. The companies could then be taken public when the smoke clears.<\/p>\n

\u201cThe recent dislocations in both the stock market and private growth equity markets, combined with a number of high-profile private investment failures and disapp<\/a>ointing IPO outcomes, have substantially reduced the amount of private funding available for these companies, while demands for liquidity from their investors have increased,\u201d the filing said.<\/p>\n

As The Post previously reported, Ackman originally filed papers on June 11 to officially raise $1 billion through sale of stock in a special-purpose acquisition company, or SPAC. The new plan seeks a minimum of $3 billion through the sale of 150 million shares in the new entity, Pershing Square Tontine Holdings, at $20 apiece.<\/p>\n

If Ackman\u2019s offering goals are met, he will obliterate the record for money raised in the SPAC market, which currently stands at $1.1 billion raised by Churchill Capital in February.<\/p>\n

\u201cWe will have the largest amount of committed capital of any blank check company upon the completion of this offering,\u201d the document reads.<\/p>\n

On May 28, Ackman, 54, disclosed that he\u2019d dumped his $1 billion stake in Berkshire Hathaway, the holding company of his professed mentor, Warren Buffett.<\/p>\n

\u201cHe always thought he\u2019d be the next Warren Buffett,\u201d one industry insider told The Post, referring to Ackman. \u201cIt looks like he\u2019s really about to try.\u201d\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

Source<\/a><\/span><\/p>\n

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If you want to read more Business News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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“#Bill Ackman wants blank-check IPO of up to $6.5 billion” June 22, 2020 | 5:57pm Enlarge Image Pershing Square CEO Bill Ackman Bloomberg via Getty Images Join the New York Post and Mansion Global for a live conversation on how COVID-19 has affected top real estate markets in the US, Friday, 6\/26 @ 12 p.m….<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[26000],"class_list":["post-13105","post","type-post","status-publish","format-standard","hentry","category-general","tag-bill-ackman-wants-blank-check-ipo-of-up-to-6-5-billion"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/13105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=13105"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/13105\/revisions"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=13105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=13105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=13105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}