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☆ Explainer: How Bill Ackman's SPARC differs from a SPAC
▼ + stars: | 2023-10-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Here's how a SPARC differs from a SPAC:DEAL VISIBILITYOne of the biggest differences is a SPARC doesn't require up-front money from investors like a SPAC does. SPAC investors are then given the option to vote down an acquisition or redeem their shares once a deal has been announced. SPARC will only ask for money from investors once it has clinched and disclosed a deal to buy a company. CAPITAL FLEXIBILITYUnlike a SPAC, the amount of money SPARC seeks from investors will vary based on the size of the deal it pursues. This means that SPARC investors will not be diluted by such warrants and will get to keep more of the company.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Ackman, Tontine, Svea Herbst, Bayliss, Lisa Shumaker Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings, SPARC, U.S . Securities, Exchange Commission, SEC, Pershing, Tontine Holdings, Universal Music Group, SPACs, Svea, Thomson Locations: Las Vegas , Nevada, U.S, New York, Rhode Island

☆ Ackman's SPARC is seeking new deals with private companies
▼ + stars: | 2023-10-01 | by ( ) www.reuters.com time to read: +1 min

Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo Acquire Licensing RightsOct 1 (Reuters) - Pershing Square SPARC Holdings Ltd, said that it will pursue business combinations with privately-held companies after receiving regulatory approval from U.S regulators for distributing special purpose acquisition rights. The SPARC, an affiliate of billionaire investor Bill Ackman's Pershing Square Tontine Holdings Ltd, is targeting companies that seek to raise a minimum of $1.5 billion of capital, it said in a regulatory filing on Friday. Ackman's SPARC is a variation of a special purpose acquisition company (SPAC), the market for which has cooled since its peak in 2021 as investors nursed losses on many deals. Ackman added that he has no idea if X is interested and would still need to determine whether or not a deal is doable.

Persons: Bill Ackman, Richard Brian, Bill Ackman's, Elon Musk's, Ackman, Elon Musk, Jose Joseph Organizations: Pershing Square Capital Management, REUTERS, Pershing Square SPARC Holdings Ltd, SPARC, Tontine Holdings, Wall, Elon, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ Bill Ackman’s 'SPARC' gets OK from the SEC and he’s ready for a deal: 'please call me'
▼ + stars: | 2023-09-29 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Bill Ackman said Friday that U.S. regulators have approved his unique special purpose acquisition company structure, and he's ready to hunt for a deal. Investors in Ackman's unfruitful SPAC, known as Pershing Square Tontine Holdings, got a tradable right to participate in a future deal, and now it's closer to becoming a reality. In Ackman's SPARC, investors get to opt in if they like the deal and walk away if they don't. The SPARC will shortly be distributing special purpose acquisition rights at no cost to former securityholders of Pershing Square Tontine. Pershing Square said the SPARC will immediately begin to pursue a merger with private, high-quality, growth companies.

Persons: Bill Ackman, Ackman's unfruitful, Ackman Organizations: Ackman's, Pershing, Tontine Holdings, Securities, Exchange Commission, Pershing Square, SPARC, Ackman's Pershing

Here are the meanings of the least-found words that were used in (mostly) recent Times articles. Works by Agatha Christie, Robert Louis Stevenson and P. G. Wodehouse all featured tontine members plotting to kill one another in hope of a big payoff. — Dog Ziggity: New Jersey’s Own Hot Dogs (Sept. 24, 2013)And a bonus: arrant — total or extreme:It constitutes a dismissal of eager and innocent articulateness. And as such, it is an arrant and thoughtless injustice that must be stopped. — Opinion: A Language Test That Stigmatizes Black Children (Oct. 7, 2022)The list of the week’s easiest words:

Persons: tantara, orotund, Lorde, tontine, Agatha Christie, Robert Louis Stevenson, G, Wodehouse, today’s, Melmoth ’, Gatsby, Tom, Daisy Buchanan, Ross Douthat, —, Umberto, monocracy, Sarkozy, ” — Sarkozy, viand Organizations: Umberto Eco, Socialists, Drinks Locations: New York, Prague, Texas

Search resuls for: "Tontine"

4 mentions found