The Securities and Exchange Commission greenlit what the Pershing Square CEO has called a SPARC — a special purpose acquisition rights company.
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. The Securities and Exchange Commission greenlit what the Pershing Square CEO has called a SPARC — a special purpose acquisition rights company — in which he will inform investors of the potential acquisition before they pledge funds.
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