Bill Ackman Scales Back Pershing Square IPO to $2 Billion
Initial target of $25 billion reduced significantly due to investor concerns and market conditions.
- Pershing Square USA to sell up to 40 million shares at $50 each.
- Underwriters have an option to purchase an additional 6 million shares.
- Institutional investors have until Friday to express interest in the IPO.
- Baupost Group, initially a potential investor, has opted out of the IPO.
- The IPO was delayed and awaits SEC approval for a new pricing date.
CNN 
CNBC 
Benzinga 