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In 2020, SPACs accounted for more than half of all deals made, in terms of dollar value, and SPACs are running well ahead of that pace in 2021. In sum, SPACs are as much a reflection of the times that we live in, as they are a potential solution to the going-public problem. In an ...
This fund was taken over by the activist Bulldog, which we have seen happen in the past. The fund has transitioned to a 'fund of funds' approach. The higher yielding fund can be quite attractive, though some pitfalls exist that you need to be made aware of. For further detai...
Bill Ackman's SPAC PSTH recently announced its very complex "merger" with UMG. This is a good time to revisit the investment thesis behind PSHZF, Bill Ackman's hedge fund that holds his economic interest in PSTH. PSHZF, through Ackman's shrewd management and its SPAC interests, is...
As it stands, the disclosed potential deal doesn't make a lot of sense. It seems like there's something missing that would explain why Ackman and Pershing Square would go to this length. It is also unclear to me why it took so long; the deal appears to have little downside to Vive...
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Shareholders in Churchill Capital IV (NYSE: CCIV ) and CCIV stock have had a relatively strong month. Shares of this SPAC scheduled to bring Lucid Motors public have been on an upward trajectory ...
PSTH recently announced its intention to purchase a 10% stake in Universal Music Group. Shares sold off following the announcement, and are just trading at a 10% premium above NAV at ~$22. Investors are discounting UMG and giving no value to the optionality of being exposed to Ack...
Hedge fund billionaire Bill Ackman setup up the $4 billion special purpose acquisition vehicle (SPAC), Pershing Square Tontine Holdings Ltd ( NYSE: PSTH ), in July 2020. But after almost a year without a deal, the SPAC announced last week that it will be acquiring a 10% stake in Uni...
Shares in Bill Ackman's Pershing Square Tontine Holdings (PSTH) rebound 5.1% after Enriqe Abyeta puts out a detailed analysis of PSTH's proposed acquisition of 10% of Universal Music Group.The stock dropped 12% on Friday after the SPAC confirmed that it's in talks to acq...
Just one IPO entered public markets after the holiday weekend, but the pipeline remained active, with 14 IPOs and 10 SPACs submitting initial filings. Cross-border payment processor dLocal priced well above the range to raise $618 million at a $6.2 billion market cap. Data-streami...
SPACs are marketed as a unique way that allows retail investors upfront participation in going-public transactions. Leakages embedded in the structure of most SPACs result in retail investors getting the short end of the stick in most cases. Pershing Square Tontine and its sponsor...
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Pershing Square Tontine Holdings Ltd. Class A Company Name:
PSTH Stock Symbol:
NYSE Market:
Special purpose acquisition companies, or SPACs, have been a part of the investment world for years, but to say they surged in popularity in 2020 and 2021 would be an understatement. Seeking to capitalize on the opportunities in the market created by the COVID-19 pandemic's disruption, hedg...