1. Ackman’s Blank Check Company Raises IPO Target to $4 Billion

    Ackman’s Blank Check Company Raises IPO Target to $4 Billion

    Pershing Square Tontine Holdings, the blank check company backed by billionaire investor Bill Ackman , has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition company, or SPAC. The firm plans to go public with 200 million units at $20 each, according to a regulatory filing on Monday. A SPAC uses IPO proceeds and borrowed funds to acquire a company, typically within two years...

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