Gate News message, April 27 — Bill Ackman’s Pershing Square USA Ltd. and Pershing Square Inc. are conducting an initial public offering (IPO) targeting approximately $5 billion in total capital raise, down from an initial target range of up to $10 billion. The offering includes $2.8 billion in private placements already disclosed in SEC filings, with approximately 85% of shares already subscribed by institutional investors.
Booking is set to close at 4 p.m. New York time on Monday (April 28), with pricing also scheduled for April 28. Pershing Square USA will charge a 2% management fee with no performance fees and will trade under ticker PSUS. Pershing Square Inc., trading as PS, will maintain voting control held by Ackman and key management.
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