| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
200 |
| Employees |
- |
| Revenues (TTM) (Millions $) |
- |
| Net Income (TTM) (Millions $) |
478 |
| Cash Flow (TTM) (Millions $) |
25 |
| Capital Exp. (TTM) (Millions $) |
0 |
Business Description
Pershing Square Tontine Holdings Ltd is a special purpose acquisition company (SPAC) founded by billionaire investor Bill Ackman and Pershing Square Capital Management. It was created for the purpose of acquiring an existing operating business and taking it public without going through the traditional initial public offering (IPO) process. The company raised a record-breaking $4 billion in its IPO in July 2020.
Pershing Square Tontine Holdings operates with a unique ontine structure, which means that investors are offered two types of shares: one with full voting rights and another with no voting rights. This structure is intended to attract long-term investors who trust Ackman's investment strategies and intend to hold the shares for an extended period.
The company's objective is to acquire a high-quality, large-scale, and well-established business with significant growth potential. It primarily focuses on businesses in the United States but may also consider opportunities globally. Pershing Square Tontine Holdings typically seeks companies valued between $10 billion and $15 billion.
Once an acquisition is made, Pershing Square Tontine Holdings would merge with the acquired company, essentially taking it public. This allows investors in the SPAC to become shareholders in the target company and potentially benefit from its future growth and success.
Overall, Pershing Square Tontine Holdings aims to leverage its founders' expertise in value investing and corporate finance to identify and acquire attractive businesses that align with their investment philosophy.
Company Address: 787 Eleventh Avenue New York 10019 NY
Company Phone Number: 813-3700 Stock Exchange / Ticker: NYSE PSTH
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