Pershing Square USA, Ltd. (“PSUS”), a closed end investment company to be managed by Pershing Square Capital Management, L.P. (“PSCM”) and Pershing Square Inc. (“PSI”), the prospective parent company of PSCM, today announced the launch of the initial public offering (the “PSUS IPO”) of the common shares of beneficial interest of PSUS (the “PSUS Shares”) and the initial public offering (the “PSI IPO”, and together with the PSUS IPO, the “Combined IPO”) of the common stock of PSI (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, one PSI Share for every five 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).