Pershing Square USA, Ltd. (“PSUS”), a closed end investment company managed by Pershing Square Capital Management, L.P. (“PSCM”), today announced that it has publicly filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form N-2 (the “N-2 Registration Statement”) relating to a proposed initial public offering (the “PSUS IPO”) of its common shares of beneficial interest (the “PSUS Shares”).
Concurrently with the filing of the N-2 Registration Statement, Pershing Square Inc. (“PSI”), the prospective parent company of PSCM, publicly filed a registration statement on Form S-1 (the “S-1 Registration Statement,” and together with the N-2 Registration Statement, the “Registration Statements”) with the SEC relating to a proposed initial public offering (the “PSI IPO,” and together with the PSUS IPO, the “Combined IPO”) of its common stock (the “PSI Shares”).
The PSUS Shares are being offered at a price of $50.00 per PSUS Share and investors in the PSUS IPO will receive, for no additional consideration, 20 PSI Shares for every 100 PSUS Shares purchased. PSUS is seeking an aggregate offering size of at least $5,000,000,000 (inclusive of the gross commitments of $2.8 billion from a private placement which will be settled concurrently with, and will be contingent upon, the closing of the Combined IPO).