Ackman to Begin Unicorn Hunt After $4 Billion Blank-Check IPO

Large, venture-backed businesses that haven’t gone public yet be advised: billionaire investor Bill Ackman now has at least $4 billion in his back pocket ready to put toward a bumper acquisition.

Ackman’s blank-check company -- the latest in a slew of special purpose acquisition companies that have hit the market in recent months -- sold 200 million units for $20 apiece, according to a statement. Pershing Square Tontine Holdings Ltd., backed by Ackman’s Pershing Square Capital Management, is set to begin trading Wednesday on the New York Stock Exchange.

WATCH: Pershing’s Bill Ackman says the ‘target universe’ for the firm’s SPAC is “probably one hundred and fifty companies total.”

Source: Bloomberg)

Funds associated with Ackman’s investment firm have committed ...