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NEW YORK--(BUSINESS WIRE)--
Pershing Square SPARC Holdings, Ltd. (“SPARC”), an affiliate of Pershing Square Tontine Holdings, Ltd. (NYSE:PSTH), today announced that it has filed a registration statement with the SEC relating to the proposed public offering of its subscription warrants to purchase common stock, or SPARs. If the registration statement is declared effective, the SPARs are expected to be distributed without cost to the securityholders of PSTH, as described in the registration statement.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be distributed or sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Pershing Square SPARC Holdings, Ltd.
SPARC is a newly formed Delaware corporation, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other business combination transaction with one or more businesses. SPARC has not yet selected any specific business combination partner or engaged in any substantive discussions, directly or indirectly, with any potential business combination partner. The Sponsor of SPARC, Pershing Square SPARC Sponsor, LLC, is an affiliate of Pershing Square Capital Management, L.P.
Pershing Square Tontine Holdings, Ltd. (“PSTH”), a Delaware corporation, is a newly organized 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. PSTH’s sponsor is 100% owned by the Pershing Square Capital Management, L.P. (“PSCM”) funds.
PSTH has not yet selected any specific business combination target. PSTH intends to pursue merger opportunities with private, large capitalization, high-quality, growth companies. PSTH will use PSCM’s substantial experience in identifying, analyzing, and determining business quality and the sustainable competitive advantages of a target company, as well as PSCM’s due diligence and negotiation expertise in executing a transaction. PSTH will seek targets in four principal market segments: high-quality IPO candidates, mature unicorns, private equity portfolio companies, and family-owned companies.
