"The PSUS Shares are being offered at a price of $50.00 per PSUS Share, and investors in the PSUS IPO will receive, for no additional consideration, 20 PSI Shares for every 100 PSUS Shares purchased. This, of course, doesn't mean that PS shares will be unavailable for purchase forever. Rather, if you want to get in on them for the IPO, your only way to do so is to buy shares in PSUS."
Billionaire investor Bill Ackman is taking his Pershing Square management company public through an unconventional approach. Rather than a traditional IPO, Ackman is launching a new fund called Pershing Square USA (PSUS) alongside the management company's public offering. Investors seeking to participate in the Pershing Square Inc. (PS) IPO must first purchase shares in PSUS at $50 per share. For every 100 PSUS shares purchased, investors receive 20 PS shares at no additional cost. This structure applies only to the initial public offering; once both entities begin trading on stock exchanges, investors can purchase PS and PSUS shares directly. Pershing Square holds significant positions in major U.S. companies.
Read at Fast Company
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