Billionaire Ackman's Blank-Check Co. Lifts Record IPO To $4B

Law360 (July 13, 2020, 9:34 PM EDT) -- A blank-check company launched by billionaire investor William Ackman's hedge fund Pershing Square upped the price for its initial public offering to $4 billion Monday, further securing its status as the largest ever blank-check vehicle, in a deal advised on by Cadwalader Wickersham & Taft LLP and Ropes & Gray LLP.

Cadwalader-guided Pershing Square Tontine Holdings Ltd. initially told the U.S. Securities and Exchange Commission in June that it was offering 150 million units to raise $3 billion to invest in "mature unicorns," or venture capital-backed companies that "have achieved significant scale, market share, competitive dominance and cash flow."

The Pershing...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!