Apr. 27 at 3:16 PM
Bill Ackman's Pershing Square IPO expected to raise
$5B -
$PSUS
The IPO of shares in Pershing Square USA Ltd., which includes complimentary shares of Pershing Square Inc., is about 85% covered by institutional investors
The
$5B total includes the
$2.8B private placement commitments alreday secured & disclosed in filings
The deal is expected to stop taking orders at 4 p.m. New York time on Monday & to price on Tuesday as scheduled
Pershing Square USA will charge a 2% management fee without performance fees, while voting rights at Pershing Square are controlled by Ackman & the core management team.
The IPO was targeting as much as
$10B
Global coordinators & lead bookrunners:
$C $UBS $BAC $JEF
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