Billionaire Bill Ackman’s blank check company raises $4 billion to acquire ‘mature unicorn’ – Yahoo Finance
By C Nivedita and Joshua Franklin
(Reuters) – Pershing Square Tontine Holdings Ltd <PSTH_u.N> units rose 5.5% in their debut on Wednesday after the company backed by billionaire investor William Ackman raised $4 billion in the biggest IPO by a special purpose acquisition firm.
The company sold 200 million units at $20 each in the initial public offering, and they opened at $21.10 on the New York Stock Exchange, a larger first-day trading pop than typical for a SPAC listing.
“We believe …