Analysis

Ackman's Record-Smashing Deal Raises Profile For SPACs

Law360 (July 22, 2020, 9:39 PM EDT) -- The record-breaking, $4 billion debut on Wednesday of billionaire investor Bill Ackman's special purpose acquisition company further boosts the profile of SPACs and could spur more like-minded entities to pursue this alternative way of taking a company public, experts said.

Blank check company Pershing Square Tontine, formed by billionaire investor Bill Ackman, shown at the New York Stock Exchange in file photo, proved to be a hit with Wall Street. (AP Photo/Richard Drew) Investors embraced Pershing Square Tontine Holdings Ltd., the SPAC formed by Ackman, on its first day as a public company. Its shares rose 6.5% to close at $21.30...

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