"Pershing Square Inc. is the parent company for Ackman's hedge fund, Pershing Square Capital Management, and the closed-end management company Pershing Square USA."
"The combined IPO raised approximately $5 billion, which comes at the low end of the target range, which was as much as $10 billion."
"The IPO price is set at $50 per share for PSUS, with IPO shares in PS issued as a bonus. For every five shares in PSUS, one share in PS was issued to the buyer."
Pershing Square Inc., the parent company of Bill Ackman's hedge fund, launched a combined IPO for Pershing Square Inc. and Pershing Square USA. The IPO took place on April 29, with shares of Pershing Square Inc. trading under the symbol 'PS' and Pershing Square USA under 'PSUS'. The IPO price for PSUS was set at $50 per share, with a bonus structure for PS shares. The total raised was approximately $5 billion, falling short of the $10 billion target. Bill Ackman's net worth is reported at $9.1 billion.
Read at Fast Company
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