Overview
- Pershing Square seeks $5 billion to $10 billion in the combined offering and has secured $2.8 billion in pre-IPO commitments from institutional and wealthy investors.
- PSUS will be offered at $50 per share, with IPO buyers receiving 20 PS shares for every 100 PSUS shares purchased, and private-placement investors receiving 30 PS shares per 100 PSUS.
- Citigroup, UBS, Bank of America, Jefferies, and Wells Fargo are listed as underwriters for the transaction.
- PS and PSUS will list concurrently on the NYSE and trade as separate securities, with an IPO date yet to be announced.
- Regulatory filings show roughly $30.7 billion in assets under management at year-end, and Pershing Square Inc. will not receive proceeds from the PSUS IPO.