In July 2020, Pershing Square raised $4bn from public investors for the biggest SPAC ever, Pershing Square Tontine Holdings (PSTH). At one point, the stock rallied to above $30/share but has since settled back down to around low-$20s. In June 2021, PSTH announced a series of transactions, with the bulk…
Category: Special Situations
2020/2021 have been the years of SPACs. In 2020, there were ~250 SPAC IPOs being raised, which was more than the total over the 10 years prior (see statistics here). Then in just first half of 2021, over 300 were raised with over $100bn in funding. Generally I have always…