Hedge fund billionaire Bill Ackman’s Pershing Square USA (PSUSA) has officially canceled its initial public offering just one day after filing with the SEC for a $2 billion listing—a far cry from its original target valuation of $25 billion. Ackman had been on a roadshow in recent weeks looking to gain commitments from institutional investors to buy PSUSA shares. However, after seven weeks of meeting with potential investors, Pershing Square is unsure if an IPO is the best way to serve its investors, Ackman wrote in an X post that announced the IPO cancellation. “We will report back once we are ready to launch a revised transaction,” Ackman added, implying that PSUSA may still launch without listing shares on a stock exchange.
Thank you for signing up!
By clicking submit, you agree to our terms of service and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime.........