Pershing Square Tontine Holdings

Pershing Square Tontine Holdings Ltd. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded on May 4, 2020 and is headquartered in New York, NY. Redemption Price: 20. Warrant Coverage: 1/9.

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Pershing Square Tontine Holdings is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with a private company.

The Special Purpose Acquisition Company (SPAC) begins trading publicly. During this phase, the SPAC looks for a target company to merge with.

CURRENT PHASE

The SPAC announces which company it will be acquiring (and taking public).

NEXT PHASE

Investors and shareholders will meet to approve the acquisition.

FINAL PHASE

Hedge fund manager Seth Klarman revealed several investments in SPACs during the third quarter, including a big bet on the largest SPAC from Bill Ackman. What Happened: A 13F filing from the third quarter reveals Klarman's Baupost Fund took a new 17.5 million-share stake in Pershing Square Tontine (NYSE: PSTH), the SPAC from Bill Ackman.

Seth Klarman Bets Big On Bill Ackman, Other SPACs

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Seth Klarman (Trades, Portfolio), manager of The Baupost Group, has revealed his portfolio for the third quarter. The portfolio saw the addition of many new holdings, including Pershing Square Tontine Holdings Ltd.

Seth Klarman's Top 5 Buys of the Third Quarter

Seth Klarman's Baupost Group is betting that billionaire investor Bill Ackman and "Moneyball" star Billy Beane can make shrewd acquisitions in the coming months. The billionaire's hedge fund disclosed in a regulatory filing that it held a $400 million stake in Ackman's special-purpose acquisition vehicle or "SPAC," Pershing Square Tontine, at the end of September. Baupost also revealed a $52 million position in Redball Acquisition Corp., another SPAC that is co-chaired by Beane and reportedly held talks to buy the Boston Red Sox in October. Klarman has been touted as "the next Warren Buffett" because he also follows a value-investing approach. Visit Business Insider's homepage for more stories. A billionaire investor heralded as "the next Warren Buffett" handed cash to hedge-fund manager Bill Ackman and "Moneyball" star Billy Beane last quarter, backing the pair to strike lucrative deals in the coming months.

A billionaire investor dubbed 'the next Warren Buffett' just revealed a $400 million bet on Bill Ackman's SPAC

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Last week I wrote here on Gurufocus about the Pershing Square Holding (LSE:PSH) vehicle run by Bill Ackman (Trades, Portfolio).

Why I'm Betting on Ackman

NEW YORK--(BUSINESS WIRE)--Pershing Square Tontine Holdings, Ltd. (“PSTH” or the “Company”) (NYSE:PSTH.U) announced today that, on Friday, September 11, 2020 (the “Unit Separation Date”), the Company's PSTH.U Units (the “Units”) will no longer trade, and that the Company's Class A Common Stock (the “Class A Common Stock”) and the Company's Distributable Redeemable Warrants (the “Distributable Redeemable Warrants”) which together comprise the Units will commence trading separately.

Pershing Square Tontine Holdings, Ltd. Notes Upcoming Automatic Unit Separation

News for Pershing Square Tontine Holdings Stock (PSTH)