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Pershing Square SPARC Holdings has filed a registration statement with the SEC for a public offering of subscription warrants, known as SPARs, which will be distributed at no cost to PSTH securityholders if approved. The registration statement is pending effectiveness, meaning that these securities cannot be sold or offered until then. SPARC is a Delaware corporation focused on completing business combination transactions, but has yet to select a business partner or engage in substantive discussions.
Positive
Filing of registration statement indicates potential capital raising through SPARs.
SPARs offered at no cost to PSTH securityholders may enhance shareholder value.
Negative
No specific business combination partner identified, leading to uncertainty.
SPARs distribution is contingent on SEC approval, which may delay potential funding.
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.
