{"id":26522,"date":"2020-07-13T22:17:00","date_gmt":"2020-07-13T19:17:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ackmans-blank-check-company-raises-ipo-target-to-4-billion\/"},"modified":"2020-07-13T22:17:00","modified_gmt":"2020-07-13T19:17:00","slug":"ackmans-blank-check-company-raises-ipo-target-to-4-billion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ackmans-blank-check-company-raises-ipo-target-to-4-billion\/","title":{"rendered":"#Ackman\u2019s blank check company raises IPO target to $4 billion"},"content":{"rendered":"

“#Ackman\u2019s blank check company raises IPO target to $4 billion<\/strong>”<\/p>\n

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July 13, 2020 |<\/span> 3:17pm <\/p>\n

\n Pershing Square Tontine Holdings, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition company, or SPAC.<\/p>\n

The firm plans to go public with 200 million units at $20 each, according to a regulatory filing on Monday.<\/p>\n

A SPAC uses IPO proceeds and borrowed funds to acquire a company, typically within two years. Investors are not notified in advance which company a SPAC will buy.<\/p>\n

Ackman, whose New York-based hedge fund manages more than $10 billion in assets, may ultimately have $7 billion to invest.<\/p>\n

In the filing, Ackman said the company will seek to acquire a venture capital-backed firm that he called a \u201cmature unicorn\u201d that has chosen to remain private.<\/p>\n

Reuters first reported Ackman\u2019s plans in June.<\/p>\n

Ackman, best known as an activist shareholder who calls for changes at companies, was also a co-sponsor of Justice Holding Inc., a SPAC which acquired restaurant chain Burger King for $1.4 billion in cash in 2012.<\/p>\n

Ackman\u2019s latest vehicle will handily beat out former Citigroup executive Michael Klein\u2019s Churchill Capital III Corp CCXX.N, which raised $1.1 billion in February, to become the largest ever SPAC.<\/p>\n

Churchill Capital late on Sunday agreed to take health care payment solutions provider Multiplan public in an $11 billion deal.<\/p>\n

Ackman is looking to list the SPAC\u2019s shares on the New York Stock Exchange under the symbol \u201cPSTH.U\u201d.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\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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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Ackman\u2019s blank check company raises IPO target to $4 billion” July 13, 2020 | 3:17pm Pershing Square Tontine Holdings, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition company, or…<\/p>\n","protected":false},"author":1,"featured_media":26523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[38101],"class_list":["post-26522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ackmans-blank-check-company-raises-ipo-target-to-4-billion"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/26522","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=26522"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/26522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/26523"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=26522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=26522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=26522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}