Pershing Square SPARC Holdings Ltd., the special purpose acquisition rights company of billionaire investor Bill Ackman, on Friday filed for a public offering of its warrants in the United States.
The SPARC structure has been devised by Ackman and has never been tested on Wall Street before. The move comes months after the prolific dealmaker abandoned a deal for his $4 billion blank-check company to buy a 10 percent stake in Universal Music Group, due to concerns from the U.S. Securities and Exchange Commission.
