(Updated - August 29, 2024 9:23 AM EDT)
Bill Ackman Mulls Sweeteners to Revive Pershing Square US IPO - FT
- Bill Ackman is seeking to resurrect the initial public offering of Pershing Square USA by offering sweeteners to early investors.
- Ackman has sounded out backers about a structure that would include additional incentives alongside Pershing Square USA stock.
- One option would gift early investors in Pershing Square USA the right to buy extra shares in the vehicle in the future at a fixed price through warrants.
- The real prize for investors in Pershing Square USA is likely to be rights to buy into the eventual IPO of Pershing Square Capital Management.
Under the previous plans for the IPO, Ackman had sought to lure investors by waiving management fees for the fund’s first year of trading.