Finance

Bill Ackman’s new blank-check company will be a $4 billion bet on a so-called ‘Mature Unicorn’

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Bill Ackman, founder and CEO of Pershing Square Capital Management.

Adam Jeffery | CNBC

Billionaire investor Bill Ackman, who made a killing this year by nailing the market bottom, on Monday disclosed plans for an initial public offering of a $4 billion blank check company, which will target so-called Mature Unicorns.

The new investment vehicle named Pershing Square Tontine Holdings plans to offer 150 million shares at $20 apiece, according to a Securities and Exchange Commission filing. 

Ackman’s hedge fund, Pershing Square Capital, will invest a minimum of $1 billion in the blank check company, while having the option to bring the total value to $6.45 billion, the filing said.

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Source cnbc.com

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