Pershing Square SPAC Discloses Bill Ackman's Tweets; Could A Deal Announcement Be Coming?

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Pershing Square Founder and CEO Bill Ackman tweeted six times in February. Three of the tweets became part of a new disclosure from the company’s SPAC and could be important to SPAC investors and current shareholders.

What To Know: A new filing from Pershing Square Tontine Holdings (NYSE: PSTH) notes that investors should follow the Twitter (NYSE: TWTR) account of Bill Ackman.

The disclosure includes three tweets from Ackman that came in response to questions asked by people on the social networking site.

  • “Done,” Ackman said to an investor who asked if PSTH shareholders could be given first preference to buy into the company’s second SPAC at the IPO price.

  • “We have the technology,” Ackman said in a response to someone asking how the company would validate who were PSTH long shareholders.

  • “Yes,” Ackman said to a user who asked the CEO to confirm that PSTH will announce a SPAC deal before the second Pershing Square SPAC announces a deal.

Related Link: Why Kevin O’Leary Is Betting On Bill Ackman’s Pershing Square Tontine SPAC

Why It’s Important: Pershing Square Tontine Holdings filed its IPO in July of 2020 and has been one of the most widely followed SPACs on the market.

The tweets from Ackman confirm a second SPAC will be launched from Pershing Square, something that was uncovered by SpacTiger on Twitter last week.

The confirmation that PSTH will complete a deal before the second SPAC could signal that the SPAC is close to announcing a merger. The next SPAC from Ackman and his company could be a different size and target a different industry. Investors have seen companies launch additional SPACs right before they announce deals for their SPACs currently publicly trading.

The other interesting part of Ackman’s tweets is the piece of rewarding patient shareholders. Investors have seen several SPAC teams launch multiple special purpose acquisition corporation offerings. It will be interesting to see if there is the technology to make Ackman’s plan to allow access to the team’s second SPAC to PSTH shareholders.

The move by Ackman could see more investors invest in PSTH now to get early access to the second SPAC. Ackman’s plan to reward could also lead to other SPAC groups following a similar move down the road.

PSTH Price Action: Shares of Pershing Square Tontine Holdings are trading flat at $29.21 on Monday. Shares have traded as high as $34.10 since the SPAC was launched.

Image source: CNBC appearance

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