Pershing Square Holdings (OTCPK:PSHZF) gains 1.3% after reporting CEO Bill Ackman purchased 19.65M public shares of PSH at an average price of $14.87 per share since May 29 for total added investment in PSH shares of $292M.
In all, Ackman, PSH board member Nick Botta, members of the Pershing Square investment team, and other Pershing Square Capital Management affiliates have purchased about 20.66M PSH shares since the May 10 closing of the $300M company tender offer.
Botta bought 850,000 public shares at an average of $14.88 per share for total additional investment of $12.6M.
If all PSH management shares were converted to public shares, the PSCM affiliates would hold 29,742,154 public shares of the company, or about 13.4% of the company on a fully diluted basis.
As a result of the company's tender offer and the recent purchases, PSH's free float has been effectively reduced by about 42.9M shares, or 18.3%.
Source: Press Release
Previously: Pershing Square Holdings weekly NAV rises (June 6)
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