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.