Bill Ackman's ‘SPARC' gets OK from the SEC and he's ready for a deal: ‘please call me'

Ackman, who has been unsuccessful in his SPAC Pershing Square Tontine Holdings for years, gave investors a right to trade to take part in future deals. Now, this deal is closer to being a reality. Please call me if your private company is interested in going public, without the risk and expense of a typical IPO. Pershing Square will be your anchor shareholder. Ackman stated this in a blog post on X (formerly Twitter). "We promise to answer your question quickly."

Please call me if you want to take your private company public without the risk and expense of a typical IPO. Pershing Square will be your anchor shareholder. Many people have stated that the traditional SPAC can be inefficient, and expensive for shareholders. SPACs are shell companies listed on the stock exchange for the purpose of buying a private company, and then taking it public within a period of two years. SPARC will soon distribute special purpose acquisition rights to former Pershing Square Tontine security holders at no cost. SPAC investors, after a period of high growth in the pandemic have turned away from speculative equities that are unproven and do not meet their inflated expectations. Pershing Square announced that the SPARC would immediately begin pursuing a merger with high-quality private growth companies. Ackman's Pershing square funds could invest a minimum $250 million up to $3.5billion as anchor investors, according to the company.