Pershing Square Tontine Holdings, Ltd. (PSTH.U), announced the pricing of their record $4.0 billion IPO this morning, making it the largest ever SPAC offering to-date. The units are expected to begin trading today, Wednesday, July 22nd, under the symbol NYSE: PSTH.U.
Pershing Square Tontine intends to pursue merger opportunities with private, large capitalization, high-quality, growth companies and will be led by Bill Ackman, the Founder and CEO of Pershing Square Capital Management. Mr. Ackman will hold the titles of Chairman, Chief Executive Officer and Director for Pershing Square Tontine.
Total SPAC deal count for 2020 year-to-date is now 47 with $18.3 billion in gross proceeds raised. The offering is anticipated to close on Friday, July 24, 2020.
Citigroup Global Markets Inc., Jefferies LLC and UBS Securities LLC are acting as the joint book running managers for the offering. CastleOak Securities, L.P., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC are acting as co-lead managers; and Academy Securities, Inc., C.L. King & Associates, Inc. and Roberts and Ryan Investments Inc. are acting as co-managers. Cadwalader, Wickersham & Taft LLP and Ropes & Gray LLP, were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP, acted as auditor.
FIGX Acquisition Corp. (NASDAQ:FIGXU) announced the pricing of its $131 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “FIGXU”, Friday, June 27, 2025. The new SPAC aims to seek out a financial services target with a particular focus on wealth and asset managers with the potential to...
Yorkville Acquisition Corp. (NASDAQ:YORKU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “YORKU”, Friday, June 27, 2025. The new SPAC plans to combine with a target company in the telecom, media or technology sectors. Yorkville Acquisition Corp.’s management team is led...
At the SPAC of Dawn As pressure on Fed Chairman Jerome Powell increases, the market is set to ingest a raft of new indicators today as well as hear from Cleveland Fed President Beth Hammack on the potential interest rate path. Today will also see June’s 8th SPAC IPO as Cantor Equity Partners III Inc....
Cantor Equity Partners III Inc. (NASDAQ:CAEP) announced the pricing of its upsized $240 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAEP”, Thursday, June 26, 2025. The new SPAC plans to combine with a target company in an industry where its management has relevant expertise such financial...
Launch One (NASDAQ:LPAA) has entered into a definitive agreement to combine with biotech firm Minovia Therapeutics at a $180 million pre-money valuation. Haifa, Israel-based Minovia is developing a drug platform based on mitochondrial cell therapies to potentially treat rare disorders as well as the effects of aging and other causes of bodily degeneration. The combined...