Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li><keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword>'s SPAC fell as much as 11.6% Friday after it confirmed it is in talks to reach a deal with Universal Music.</li><li><keyword id="10864268" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings">Pershing Square Tontine Holdings</keyword>' investment could value the music group at $40 billion.</li><li id="recirc">The size of the blank check firm and prominence of Ackman has had investors eagerly awaiting news of the deal since <keyword id="11381271" type="UNKNOWN" weightage="60" keywordseo="psth">PSTH</keyword> went public last summer. <a href="https://www.businessinsider.com/?hprecirc-bullet"></a></li></ul>Billionaire Bill Ackman's special purpose acquisition company <a href="https://markets.businessinsider.com/stocks/psth-stock">Pershing Square Tontine Holdings</a> fell as much as 11.6% Friday after it <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-spac-psth-universal-music-future-deals-2021-6-1030494453">confirmed it is in talks to reach a deal with Universal Music.</a>Shares of the blank check company traded around $22.50 shortly after the Friday opening bell. Friday morning Pershing Square Tontine Holdings confirmed that it is in discussions with Vivendi to acquire 10% of the outstanding ordinary shares of Universal Music Group for approximately $4 billion.The deal with Universal would be the largest SPAC transaction on record, according to the Wall Street Journal. It would have an enterprise value of about $42 billion.Ackman's pending deal with Universal Music was first reported by <a href="https://www.wsj.com/articles/pershing-square-spac-nears-transaction-with-universal-music-group-11622756897">The Wall Street Journal</a>. PSTH shares fell as much as 8% in Thursday aftermarket trading after the news broke.The size of the blank check firm and prominence of Ackman has had investors eagerly awaiting news of the deal since Pershing Square Tontine <a href="https://markets.businessinsider.com/news/stocks/pershing-square-tontine-price-bill-ackman-ipo-blank-check-debut-2020-7-1029421513">went public last summer. </a>In a press release, Ackman called Universal Music Group "one of the greatest businesses in the world," and touted the deal as an "iconic transaction." He highlighted UMG's leading market share, stellar management, exposure to music streaming, minimal capital needs, and several other attributes that attracted him to the business.But not all investors are excited about the acquisition. A measure of social sentiment showed that users on StockTwits were largely bearish on the SPAC Friday morning."SPACs are dead :) I'm glad you all got burnt. Stop buying bull s**t," one user wrote. "Told u all it's not starlink," another said. Ackman's hedge fund and its affiliates have the right to buy another $1.4 billion of <keyword id="11377281" type="UNKNOWN" weightage="60" keywordseo="psth-stock">PSTH stock</keyword>, meaning the vehicle could be armed with almost $3 billion to pursue another business combination.

Bill Ackman's SPAC falls after confirming talks to acquire 10% of Universal Music in long-awaited deal

<ul class="summary-list"><li><keyword id="11908246" type="UNKNOWN" weightage="60" keywordseo="bill-ackman" source="Orion">Bill Ackman</keyword>'s <keyword id="11908247" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings" source="Orion">Pershing Square Tontine Holdings</keyword> (<keyword id="11908248" type="UNKNOWN" weightage="60" keywordseo="psth" source="Orion">PSTH</keyword>) raised $4 billion in 2020 to finance a merger.</li><li>The investor's <keyword id="11908250" type="UNKNOWN" weightage="60" keywordseo="spac" source="Orion">SPAC</keyword> plans to return the money after failing to close a deal within two years.</li></ul>Bill Ackman had high hopes for <a href="https://markets.businessinsider.com/stocks/psth-stock">Pershing Square Tontine Holdings</a> when he took it public in July 2020, and the special-purpose acquisition company <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-blank-check-spac-ipo-tontine-raise-record-market-2020-7-1029415963">raised a record-breaking $4 billion</a>. Now, he plans to return all of that cash to PSTH shareholders after failing to close a merger deal within the two-year time limit for SPACs.The <keyword id="12452505" type="UNKNOWN" weightage="60" keywordseo="pershing-square" source="Orion">Pershing Square</keyword> boss explained in a <a href="https://pstontine.com/wp-content/uploads/2022/07/PSTH-Letter-to-Shareholders-7.11.22.pdf">letter to investors</a> on Monday that when he launched PSTH, he expected the COVID-19 pandemic to continue disrupting capital <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> for a while, making his SPAC an attractive alternative to a traditional initial public offering (IPO) for a private company seeking to list its shares.However, the US stock market and economy bounced back in a matter of months."The rapid recovery of the capital markets and our economy were good for America but unfortunate for PSTH, as it made the conventional IPO market a strong competitor and a preferred alternative for high-quality businesses seeking to go public," Ackman said.The billionaire investor also blamed the "extremely poor" performance of SPACs during the pandemic, saying it weighed on sentiment towards the vehicles. Moreover, he cited high redemption rates that ate into post-merger capital, increased the dilution from outstanding stock warrants, and fueled uncertainty about SPAC deals.Ackman pointed to the lawsuit against PSTH, and regulators' proposed new rules for SPACs in March, as other factors that made it tough to close a transaction. He also noted that exceptional businesses can often postpone going public until market conditions improve, limiting the number of potential targets for PSTH.The Pershing Square chief added that PSTH did agree to purchase a stake in Universal Media Group as part of its spin-off from Vivendi last year, but scrapped the deal in the face of regulatory pushback.Ackman ended his letter on an optimistic note. He asserted that SPAC and IPO markets have basically been shut down by the ongoing market turmoil, making it a great time to launch his proposed <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-spac-psth-universal-music-future-deals-2021-6-1030494453">special-purpose acquisition rights company</a> (SPARC).The investor and his team are <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-psth-spac-return-cash-warren-buffett-2021-8">still seeking approval</a> for the product, which wouldn't tie up investors' cash or face a two-year deadline like a SPAC. If they get the green light from regulators, they intend to distribute rights to holders of PSTH shares or warrants as of the market close on July 25. The rights would allow investors to buy into the SPARC at a fixed price once it strikes a merger deal."We are disappointed that we did not achieve our initial objective of consummating a high-quality transaction for PSTH," Ackman said in the letter. "We look forward to the opportunity to continue to work on your behalf once SPARC is successfully launched."Read more: <a href="https://www.businessinsider.com/investing-in-a-recession-cash-flow-is-king-for-these-6-stocks-2022-7?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">Predictable cash-flow is king according to the manager of a market-beating $500 million fund. He lays out what investors should look for in the stocks they pick — and names 6 companies that fit the bill.</a>

Bill Ackman says he'll return $4 billion to PSTH investors after failing to close a SPAC deal - and trumpets his next-generation SPARC

<ul class="summary-list"><li><keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword>'s <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> is being sued for not operating as a blank-check firm, the New York Times reported.</li><li>They argued that Ackman's SPAC has behaved more like an investment company than an operating company.</li><li>Ackman's SPAC pushed back saying it has never held investment securities that would require it to be registered under the Act.</li></ul>Billionaire hedge fund manager Bill Ackman's SPAC is being sued for not operating as a blank-check firm, the <a href="https://www.nytimes.com/2021/08/17/business/dealbook/bill-ackman-spac.html">New York Times</a> first reported Tuesday, a case that could affect the broader industry amid a boom in the past year.Ackman's <keyword id="10864268" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings">Pershing Square Tontine Holdings</keyword> was hit with a lawsuit by former SEC Commissioner Robert Jackson and Yale law professor John Morley.Both argued that Ackman's SPAC is operating more like an investment fund than an operating company -similar to his hedge funds - which means it should instead be regulated by the Investment Company Act of 1940. Investing in securities is basically the only thing that <keyword id="11381271" type="UNKNOWN" weightage="60" keywordseo="psth">PSTH</keyword> has ever done," the complaint viewed by Insider said, adding that buying stocks is not what a SPAC is supposed to do.The lawsuit, filed in US District Court in Manhattan, also pointed to the warrants - the right to purchase common stock at a certain price - that sponsors and directors would receive."This staggering compensation was promised at a time when the returns to the Company's public investors have starkly underperformed the rest of the stock market," the complaint said.Pershing Square pushed back against the lawsuit Tuesday saying it has never held investment securities that would require it to be registered under the Act - and does not intend to do so in the future. "We believe this litigation is totally without merit," the statement said. "The complaint bases its allegations, among other things, on the fact that PSTH owns or has owned US Treasurys and money market funds that own US Treasurys, as do all other SPACs while they are in the process of seeking an initial business combination." In July, Ackman <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-psth-spac-universal-music-stake-sec-2021-7">scrapped</a> his <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-psth-spac-seals-4-billion-deal-universal-music-2021-6?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">plan</a> to buy 10% of Universal Music for $4 billion after federal regulators poured cold water on the proposed transaction, the billionaire announced in his shareholders' <a href="https://pstontine.com/wp-content/uploads/2021/07/Letter-to-Shareholders-from-PSTH-CEO-Bill-Ackman.pdf" target="_blank" rel="noopener">letter.</a>Days after, Ackman <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-psth-universal-music-inflation-economic-boom-2021-7">lamented</a> his <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-psth-spac-universal-music-stake-sec-2021-7?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">nixed SPAC deal</a> but hinted he already has alternative targets in mind.SPACs, shell companies that list with the aim of merging with private companies and taking them public, have exploded in popularity in the past few years. This <a href="https://www.businessinsider.com/spac-ipo-bill-ackman-reid-hoffman-dave-dewalt-fireeye-2021-3" target="_blank" rel="noopener">method</a> is typically done in lieu of an IPO or a direct listing and has garnered support from Wall Street heavyweights as well as pop icons and professional athletes.Ackman, for his part, has tried to rewrite the rules for his SPAC.For instance, he said he will be "<a href="https://markets.businessinsider.com/news/stocks/bill-ackman-tontine-ipo-taking-no-compensation-holdings-begins-trading-2020-7-1029421391">taking no compensation</a>" in a bid to appeal to more investors. "We created the most investor-friendly SPAC in the world," <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-tontine-ipo-taking-no-compensation-holdings-begins-trading-2020-7-1029421391">Ackman said</a>, adding that SPACs are an easier route to public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> than a traditional IPO.But given the frenzy around blank-check listings, <a href="https://markets.businessinsider.com/news/stocks/sec-spacs-banks-conflicts-of-interest-deals-blacnk-check-company-2021-7">regulators</a> have begun looking into tightening the rules.In 2020, a total of 248 SPACs raised $83.3 billion according to <a href="https://www.spacanalytics.com/" target="_blank" rel="noopener">SPAC Analytics</a>. Over halfway through 2021 alone, data already show 412 SPACs that have raised $121 billion, comprising 53% of initial public offerings.The past months however have seen a slight <a href="https://markets.businessinsider.com/news/stocks/spac-market-outlook-analysis-demand-first-day-trading-spikes-evaporate-2021-3">cooling off</a> in the red-hot SPAC market as first-day trading spikes that were common in the space earlier this year begin to evaporate.

Billionaire investor Bill Ackman's SPAC is reportedly being sued for not operating as a blank-check firm

<ul class="summary-list"><li><keyword id="1473616" type="PERSON" weightage="60" keywordseo="Seth-Klarman">Seth Klarman</keyword>'s <keyword id="1473613" type="COMPANY" weightage="60" keywordseo="Baupost-Group">Baupost Group</keyword> has nearly $900 million invested in SPACs, according to<a href="https://www.cnbc.com/2021/08/16/seth-klarman-increases-facebook-and-micron-stakes-has-about-900-million-tied-up-in-spacs.html"> data compiled by CNBC.</a></li><li>But the <keyword id="62375" type="ORGANIZATION" weightage="60" keywordseo="Hedge-fund">hedge fund</keyword> trimmed its stake in <keyword id="10864268" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings">Pershing Square Tontine Holdings</keyword>, <keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword>'s high-profile <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> that has yet to complete a transaction.</li><li>Baupost Group slashed its stake in PSTH by 20% in the second quarter of 2021. </li></ul>Billionaire investor Seth Klarman's Baupost Group has nearly $900 million invested in special purpose acquisition companies, according to<a href="https://www.cnbc.com/2021/08/16/seth-klarman-increases-facebook-and-micron-stakes-has-about-900-million-tied-up-in-spacs.html"> data compiled by CNBC.</a>But during the second quarter of 2021, the hedge fund trimmed its stake in one high-profile SPAC: Bill Ackman's <a href="https://markets.businessinsider.com/stock/PSTH">Pershing Square Tontine Holdings.</a>According to recent <a href="https://www.sec.gov/Archives/edgar/data/1061768/000156761921015518/xslForm13F_X01/form13fInfoTable.xml">SEC filings,</a> Baupost Group slashed its stake in PSTH by 20% in the second quarter. The hedge fund which manages about $32 billion total held 10,090,655 shares of PSTH at the end of the second quarter. The stake would be worth roughly $201 million based on Monday's stock price.Seth Klarman is often nicknamed "the next Warren Buffett" as he has embraced a value investing style for decades. But his increased interest in high-growth SPACs showcase a change of pace for the investor.According to data analyzed by CNBC, at the end of the second quarter Klarman had $891 million invested in blank check companies and companies that went public via a SPAC.Klarman<a href="https://markets.businessinsider.com/news/stocks/seth-klarman-baupost-400-million-bill-ackman-pershing-square-spac-2020-11?utm_source=markets&amp;utm_medium=ingestgest"> first bought Pershing Square in the third quarter of 2020.</a> He then slashed the stake by 27% in the next quarter and didn't change his position in the first quarter of 2021. Last month, Bill Ackman revealed that his Pershing Square Tontine Holdings <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-psth-spac-universal-music-stake-sec-2021-7">would not go through with a complicated deal </a>to buy 10% of Universal Music. Instead, the blank-check company will complete a conventional SPAC deal and have 18 months to close one unless shareholders vote for an extension. Read more: <a href="https://www.businessinsider.com/stocks-to-buy-short-squeeze-5-candidates-august-15-picks-2021-8" target="_blank" rel="noopener">These 5 stocks offer the most short-squeeze potential for retail investors this week, according to Fintel</a>

Billionaire investor Seth Klarman has nearly $900 million in SPACs - but trimmed his stake in Bill Ackman's blank-check company during the 2nd quarter

<ul class="summary-list"><li><keyword id="11908246" type="UNKNOWN" weightage="60" keywordseo="bill-ackman" source="Orion">Bill Ackman</keyword>'s $4 billion blank-check company has just 6 weeks to identify a target to merge with.</li><li>A deal for <keyword id="11908247" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings" source="Orion">Pershing Square Tontine Holdings</keyword> to acquire Universal Music collapsed last year.</li></ul>Billionaire investor Bill Ackman is running out of time to find a target for his $4 billion special purpose acquisition company.<a href="https://markets.businessinsider.com/stocks/psth-stock">Pershing Square Tontine Holdings</a> needs to identify a company to acquire within the next six weeks, or Ackman will have to return all its cash to his investors.A SPAC raises money by listing on the stock market and then aims to merge with a private company within a set timeframe. Ackman's blank-check vehicle <a href="https://www.marketwatch.com/story/bill-ackmans-pershing-square-tontine-goes-public-55-above-its-ipo-price-2020-07-22">went public</a> on July 22, 2020. Sponsors have to dissolve their SPAC within two years of listing if they are unable to identify an acquisition target.Ackman <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-pershing-square-psth-spac-universal-music-stake-sec-2021-7?utm_medium=ingest&amp;utm_source=markets">scrapped his plan to buy a stake in Universal Music</a> last year, citing opposition to the deal from the Securities and Exchange Commission. PSTH is yet to identify a replacement target and its stock has plummeted to 5.7% below its initial $21.10 listing price since that deal was nixed.<a href="https://www.bloomberg.com/news/articles/2022-04-11/ackman-says-proposed-spac-rules-suggest-sec-backs-him-in-dispute#xj4y7vzkg">Ackman has subsequently urged the SEC to extend its deadline</a>, but it's looking increasingly likely that he'll have to return $4 billion worth of cash to PSTH's initial investors."Unless Ackman comes up with some magic in an extremely volatile and uncertain market, he will be returning the $4 billion," Jim Osman, founder of the Edge Consulting Group, told Insider.<keyword id="11930353" type="UNKNOWN" weightage="60" keywordseo="spacs" source="Orion">SPACs</keyword> raised $96 billion in the first quarter of 2021 alone, according to the <a href="https://hbr.org/2021/07/spacs-what-you-need-to-know">Harvard Business Review</a>, but the industry has struggled since that initial boom. Morgan Creek's <a href="https://markets.businessinsider.com/etfs/morgan-creek-exos-spac-originated-etf-us53656f4660?utm_medium=ingest&amp;utm_source=markets">Exos SPAC Originated ETF</a>, which tracks these vehicles, has plummeted 47.8% over the past year.One issue is that SPACs tend to merge with high-growth, low cash-flow companies that want to avoid the traditional IPO process. These sorts of stocks have struggled in 2022 due to rising interest rates, with the tech-heavy <a href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> entering bear market territory."With monetary policies tightening, <a href="https://www.businessinsider.com/federal-reserve-inflaton-everything-bubble-economy-stock-market-debt-2022-1?r=US&amp;IR=T">speculative bubbles are bursting one after the other</a>," Charles-Henry Monchau, chief investment officer at Syz Bank, said. "SPACs are no exception.""Bill and Pershing face an uphill battle," Edge Consulting's Osman added. "Selling SPACs to investors is now virtually impossible."Read more: <a href="https://www.businessinsider.com/bill-ackman-netflix-stock-picks-to-buy-investing-analysis-strategy-2022-2?r=US&amp;IR=T">Bill Ackman owns 7 stocks after his $1.1 billion bet on Netflix. Here's why he bought each of them.</a>

Bill Ackman's SPAC has just 6 weeks to find a target — or he'll have to return $4 billion to investors

<ul><li><keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword> is hoping to close his massive <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> deal in the next few weeks.</li><li>The investor trumpeted his chosen target as an "iconic, phenomenal" business.</li><li>Ackman's PSTH vehicle has been working to buy a piece of it for six months.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">See more stories on Insider's business page</a>.</li></ul>Bill Ackman hopes to close his mammoth blank-check deal in a matter of weeks, he revealed at The Wall Street Journal's <a href="https://www.wsj.com/articles/pershing-square-holds-nearly-6-of-domino-s-pizza-ackman-tells-wsj-11620829744?mod=e2tw">"The Future of Everything Festival"</a> on Wednesday.The billionaire investor said his team has identified an "iconic, phenomenal, great business with a great management team that meets all of our criteria." They have been working since early November to buy a piece of it, he added.The hedge fund manager listed <keyword id="10864268" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine-holdings">Pershing Square Tontine Holdings</keyword>, a special-purpose acquisition company or SPAC, on the stock market last summer. Its goal is to spend about $5 billion for a minority stake in a private business and take it public.The nature of its chosen target, the complexity of the transaction, and various other issues have delayed the process, the <keyword id="1651980" type="COMPANY" weightage="60" keywordseo="Pershing-Square-Capital-Management">Pershing Square Capital Management</keyword> boss said. However, he believes the company in question is so attractive and interesting that it will be "worth the energy and the effort."Ackman reiterated that PSTH's goal is to buy a "super-high quality, durable, growth business." He paraphrased a famous quote by his mentor <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword> to make his point."What we're looking for is a business that you can own for the next decade," Ackman said. "The stock market could shut and you would have enormous confidence the business would be worth multiples of the price you pay today."Ackman now believes he's close to securing a stake in that kind of company, but cautioned the deal could still collapse. "We're either gonna get a transaction done in the next relative short term - weeks - or we'll be onto the next one," he said.The Pershing Square chief made <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-quotes-inflation-sustained-rates-bitcoin-wsj-stock-market-2021-5-1030422545">other notable comments</a> at the virtual festival. His hedge fund has sold its Starbucks stake and bought about 6% of Domino's Pizza, he revealed.Ackman also cautioned that the <a href="https://www.businessinsider.com/what-does-core-inflation-mean-bottlenecks-supply-shortages-economy-manufacturing-2021-5">recent spike in inflation</a> might not be temporary, and predicted the Federal Reserve will raise interest rates. Moreover, he described cryptocurrencies as a "brilliant technology" but said he wasn't comfortable owning a meaningful amount of them.

Billionaire investor Bill Ackman hopes to close his mega SPAC deal within weeks - and called his target an 'iconic' business

<ul><li><keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword>'s blank-check buyout company is set to stop taking investor orders and begin trading on Wednesday.</li><li>The <keyword id="6767232" type="UNKNOWN" weightage="60" keywordseo="special-purpose-acquisition-company">special purpose acquisition company</keyword> is set to break records for IPOs in its category, with plans to offer 200 million units at $20 each. The $4 billion fundraising goal <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-boosts-blank-check-spac-ipo-target-billions-acquisition-2020-7-1029392640">was raised from $3 billion</a> just last week.</li><li>Each unit consists of one common share and one-ninth of a redeemable warrant. Full warrants allow holders to buy an additional share for $23.</li><li>Though <keyword id="3457215" type="PERSON" weightage="60" keywordseo="ackman">Ackman</keyword> hasn't revealed which companies he's eyeing to take over, previous regulatory filings said he's looking for "high-quality, venture-backed businesses" and "mature unicorns."</li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurlutm_campaign=bodyurl">Visit the Business Insider homepage for more stories</a>.</li></ul>Bill Ackman's special purpose acquisition company — <keyword id="9575100" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine">Pershing Square Tontine</keyword> Holdings — will stop taking investor orders on Tuesday and begin trading on Wednesday, according to recent <a href="https://www.sec.gov/Archives/edgar/data/1811882/000119312520195140/0001193125-20-195140-index.htm">regulatory filings</a>.The blank-check acquisition vehicle is set to break records with its initial public offering. The <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> plans to sell 200 million units at $20 each, raking in up to $4 billion for a future buyout. The sum <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-boosts-blank-check-spac-ipo-target-billions-acquisition-2020-7-1029392640">is up from initial plans</a> to sell 150 million units at the same price. Ackman also committed to pushing up to $3 billion into the SPAC from his own funds, potentially growing the company's size to $7 billion.Each unit consists of one common share and one-ninth of a redeemable warrant. Each full warrant allows a holder to buy one share of common stock for $23, according to the filing.The SPAC will trade on the New York Stock Exchange and is expected to trade with the ticker "PSTH."Read more: <a href="https://www.businessinsider.com/stock-market-investing-strategy-cheap-options-trades-for-earnings-kolanovic-2020-7" target="_blank" rel="noopener">JPMORGAN: The most unloved group of stocks at the coronavirus crisis peak is now more appealing than ever before. Here are 3 trades to buy into while they're still super-cheap.</a>The hedge fund billionaire hasn't yet specified to investors which companies he's eyeing to take over. A previous filing stated Ackman is attracted to "high-quality, venture-backed businesses" that could be classified as "mature unicorns."Though Ackman primarily operates in the hedge fund industry, Pershing Square Tontine isn't his first foray into the SPAC sector. His fund — <keyword id="4289995" type="COMPANY" weightage="60" keywordseo="pershing-square-capital">Pershing Square Capital</keyword> — helped acquisition company Justice Holdings raise $1.4 billion in 2011. The SPAC merged with Burger King Worldwide the following year and later took the restaurant chain public.Read more: <a href="https://www.businessinsider.com/how-to-invest-in-election-volatility-options-trades-goldman-sachs-2020-7">GOLDMAN SACHS: These 17 trades can help investors maximize their gains from the stocks most affected by the US elections in November</a>SPAC activity has been on a tear in 2020. The year has already seen 45 such firms go public and collectively raise more than $14 billion, according to <a href="https://spacinsider.com/stats/">SPACInsider</a>, a website tracking data on the offerings. The investment vehicles raise capital in public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> with the intention of eventually buying a company and taking it public.Most recently, former Citigroup banker Michael Klein closed <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-dealmaker-struck-11-billion-blank-check-multiplan-takeover-2020-7-1029413701">the biggest SPAC takeover yet</a> by acquiring healthcare group MultiPlan for $11 billion on July 13. The SPAC used in the deal — Churchill Capital III — is one of four acquisition companies led by Klein.Now read more markets coverage from Markets Insider and Business Insider:<a href="https://www.businessinsider.com/investing-strategy-tech-stock-trades-for-q2-earnings-morgan-stanley-2020-7">Morgan Stanley warns tech stocks are unusually vulnerable to earnings disasters over the next few weeks — and shares its strategy for profiting regardless of the outcomes</a><a href="https://www.businessinsider.com/coronavirus-stimulus-bill-not-passing-july-endanger-unemployment-benefits-mccarthy-2020-7">Top House Republican says 2nd round of coronavirus stimulus likely won't pass until August — endangering a key expansion to unemployment benefits</a><a href="https://markets.businessinsider.com/news/stocks/oil-price-highest-march-eu-stimulus-coronavirus-economic-hopes-wti-2020-7-1029414952">Oil soars to highest since March as investors boost optimism for economic recovery</a>

You Searched For "psth stock price" and got 7 results

Bill Ackman's SPAC falls after confirming talks to acquire 10% of Universal Music in long-awaited deal

Emily Graffeo

Bill Ackman says he'll return $4 billion to PSTH investors after failing to close a SPAC deal - and trumpets his next-generation SPARC

Theron Mohamed

Billionaire investor Bill Ackman's SPAC is reportedly being sued for not operating as a blank-check firm

Isabelle Lee

Billionaire investor Seth Klarman has nearly $900 million in SPACs - but trimmed his stake in Bill Ackman's blank-check company during the 2nd quarter

Emily Graffeo

Bill Ackman's SPAC has just 6 weeks to find a target — or he'll have to return $4 billion to investors

George Glover

Billionaire investor Bill Ackman hopes to close his mega SPAC deal within weeks - and called his target an 'iconic' business

Theron Mohamed

Bill Ackman's blank-check acquisition company to begin trading on Wednesday after raising up to $4 billion

Ben Winck

Popular Keywords

Buying Guides