Entering text into the input field will update the search result below

Pershing Square Tontine to redeem shares and will not enter business combination

Recommended For You

Comments (40)

Have a tip? Submit confidentially to our News team. Found a factual error? Report here.

LeMarJackson profile picture
Am late to this. Can someone confirm my underestanding? As a PSTH holder I got back $20.50 AND will get 1/2 a SPARC for each share of PSTH I owned???
User46126116 profile picture
@LeMarJackson You should have received approximately $20.05 per share and, if the SPARC structure is eventually approved by regulators, you will receive 1/2 of a SPARC per share. The last estimate I saw was September/October for the SPARC approval/distribution. Of course, it is possible that the SPARC will never be approved leaving you with just the $20.05/share.
@LeMarJackson Yes.
Over the last 2-3 days, three things happened in my brokerage account:
PSTH was closed out; the money appeared; a placeholder for the SPARC warrants appeared.
chi_tino profile picture
Someone help me find the mistake in my arb math. I have been making this trade all morning and it looks like free money. Sell the PSTH Jan 19, 2024 $20 calls for 20 cents, buy the Aug 19, 2022 $20 calls for 10 cents. Pocket the difference in cash. Upon the buyout, they are all automatically exercised and the long/short shares cancel each other out. Any question of future SPARC warrants is also neutralized.
@chi_tino PSTH will cease trading on July 25.
chi_tino profile picture
@chi_tino That arb completely closed up. All dates for the $20 calls are now trading at the same price. It was a few hundred dollars of easy, risk-free beer money while it lasted.
Why are the warrants selling for 44 cents? Short them!!

There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.
Holders of PSTH warrants will be issued warrants in the new SPARC. They will be worth more than $0.
LAMINE KANE profile picture
What will happen to $PSTH warrants?
@LAMINE KANE Worthless

There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.
User46126116 profile picture
@energyguy921 Actually, if SPARC ever comes to fruition, which apparently they think could happen in the fall, the warrant holders will each get a SPARC and common shareholders will get 1/2 of a SPARC.
@User46126116 that has changed

Go read his press release, it says unequivocally, they expire worthless
dxiri profile picture
do we get SPARC or anything else in addition to the cash in the trust?
Yes, SPARC warrants in addition to the $20-and-change.
Flip4Flop profile picture
only had 100 shares left and about 50 warrants. Managed to sell the warrant after the close for .40 and the shares for 20.11 so made out there a little.
Major disappointment...Well, all said, this will at least give most of my money back. A couple of other de-spaced companies I took on are so far down that it's hardly an ongoing concern. Ackman had a good deal with UMG, but alas regulators struck again. Win some...lose some.
@scizen You do realize if they did the deal the stock would have fallen 20 to 30 percent in a matter of days. Thank you lucky stars this deal broke.
If 95% of the existing SPAC management teams thought of anything but their own personal gain they'd all call it quits.
Ackman showed his true colors, took the deal for his own fund -- in which he himself has a huge stake

Lesson learned about Ackman
@Potty1313 Not his fault, the SEC's
@energyguy921 Obviously Ackman's fault, since he made the decisions after spent tens of millions of dollars OF INVESTORS MONEY on legal advice, so they knew what the rules were -- THEN Ackman took the deal for his fund and made a mint.
@Potty1313 he didn’t make a mint

It’s trading at the same price he paid for it

The sec screwed because he backed Bloomberg

I guess he should of planned on Biden being a crook
Legacy Legends, LLC profile picture
I warned of this clown show. 🪦 RIP.
Ben Ken profile picture
Sad to see it go - the r/psth sub reddit has been comedy gold….
Jamm Systems profile picture
End of an era. I remember when everybody was so excited about them. Seems like several lifetimes ago LOL
DumInvestor3 profile picture
Now is the time to make a deal. So much value…
Warrants are worthless. No one wanted 4 billion!

He should of rolled up an energy company
Never Trust Ackmann again. Dead money for 2 years
@piano-memo You made a nickel, most spac's lost 50 % or more
Seeking mispricings profile picture
@energyguy921 And you aren't down 30-50% like the nasdaq.

Ackman's greed unintentionally made investors rich.
@A........a Hey dope, I'm in energy the only sector is up big time

Related Stocks

SymbolLast Price% Chg
Pershing Square Tontine Holdings, Ltd.
Cazoo Group Ltd
Advantage Solutions Inc.
Trilogy Metals Inc.
Vivendi SE
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.