# Pershing Square Tontine Holdings > newly organized blank check company formed for the purpose of effecting a merger (SPAC) **Wikidata**: [Q105853613](https://www.wikidata.org/wiki/Q105853613) **Source**: https://4ort.xyz/entity/pershing-square-tontine-holdings ## Summary Pershing Square Tontine Holdings (PSTH) is a special-purpose acquisition company (SPAC) formed to raise capital through an initial public offering and subsequently merge with or acquire a private company. It was founded by prominent investor Bill Ackman and went public on the New York Stock Exchange in September 2020. ## Key Facts - Instance of: special-purpose acquisition company, public company - Founded by: Bill Ackman - Stock exchange: New York Stock Exchange - Ticker symbol: PSTH (as of initial listing) - Start date on NYSE: 2020-09-11 - Alias: PSTH - Identifier (Crunchbase): pershing-square-tontine-holdings - Official website: https://pstontine.com/ - Wikidata description: newly organized blank check company formed for the purpose of effecting a merger (SPAC) ## FAQs **What is Pershing Square Tontine Holdings?** It is a special-purpose acquisition company (SPAC), also known as a blank check company, created to raise capital with the intent of merging with or acquiring a private business. It became publicly traded in September 2020. **Who founded Pershing Square Tontine Holdings?** The company was founded by Bill Ackman, a well-known hedge fund manager and founder of Pershing Square Capital Management. **When did it begin trading on the New York Stock Exchange?** Pershing Square Tontine Holdings started trading on the New York Stock Exchange on September 11, 2020, under the ticker symbol PSTH. **What is its legal structure?** It is legally structured as a public company and classified specifically as a special-purpose acquisition company (SPAC), which is a type of blank check company. **What is the purpose of this entity?** Its primary purpose is to effect a merger transaction with a target company, typically enabling that company to become publicly traded without undergoing a traditional IPO process. ## Why It Matters Pershing Square Tontine Holdings represents a significant development in the SPAC market, particularly due to its association with Bill Ackman, a high-profile investor known for his activist and macro strategies. As a blank check company, it plays a role in the evolving financial ecosystem by facilitating alternative paths to public markets for private companies. Its structure and strategy reflect the growing influence of SPACs in capital formation, especially post-IPO for companies seeking more flexible or expedited access to public funding. ## Notable For - Being founded by Bill Ackman, a leading figure in the hedge fund and investment community - Launching one of the largest SPAC initial public offerings (IPOs) in 2020, which raised approximately $4 billion - Being among the most high-profile SPACs due to its size and leadership - Representing a shift in how private companies consider going public, especially amid increased SPAC activity in the late 2010s and early 2020s - Being a public company with a specific focus on mergers and acquisitions rather than ongoing operations ## Body ### Founding and Structure Pershing Square Tontine Holdings (PSTH) was founded by Bill Ackman through his firm Pershing Square Capital Management. It was structured as a special-purpose acquisition company (SPAC), commonly referred to as a blank check company, with the explicit goal of raising capital to merge with or acquire a private business. SPACs like PSTH are formed without commercial operations and exist solely to identify and complete a business combination. ### Initial Public Offering and Market Debut PSTH went public in September 2020, raising approximately $4 billion in what was then one of the largest SPAC offerings. It began trading on the New York Stock Exchange under the ticker symbol "PSTH" on September 11, 2020. This debut was notable for its scale and timing, occurring during a period of heightened SPAC popularity in the U.S. markets. ### Legal and Regulatory Classification PSTH is classified as a public company and specifically as a special-purpose acquisition company (SPAC) or blank check company under U.S. securities regulations. As such, it adheres to disclosure and reporting standards required of public companies, including filing with the SEC and maintaining transparency with investors regarding its search for a target company. ### Leadership and Affiliation The company is directly affiliated with Pershing Square Capital Management, a hedge fund managed by Bill Ackman. Ackman also serves as the Chairman and CEO of the entity. This connection to a major institutional investor adds credibility and visibility to the SPAC’s efforts in identifying and acquiring a target. ### Strategic Intent and Market Position PSTH was created to pursue a high-profile merger, with early market speculation focusing on large private companies that could benefit from a public listing via SPAC. Its structure and leadership positioned it as a vehicle for transformative deals, distinct from many smaller or sector-specific SPACs. ### Online Presence and Identity The company maintains a dedicated website at https://pstontine.com/, which serves as a central hub for investor communications and corporate updates. It is identified in databases such as Crunchbase under the ID "pershing-square-tontine-holdings" and is tagged in Wikidata with the description: "newly organized blank check company formed for the purpose of effecting a merger (SPAC)." ### Broader Context and Financial Strategy PSTH is part of a broader trend in which SPACs have become a popular alternative to traditional IPOs, particularly for companies seeking faster access to public capital. Its creation reflects the increasing sophistication and scale of SPACs, with institutional investors like Bill Ackman leading the charge in reshaping how companies go public. ### Regulatory and Exchange Details PSTH is listed on the New York Stock Exchange (NYSE), one of the world’s largest stock exchanges. It trades under the ticker symbol "PSTH" and has been subject to the same regulatory scrutiny and investor interest as other public companies, particularly given its high-profile backing. ### Terminology and Aliases The company is commonly referred to by its abbreviation "PSTH" and is categorized under several related terms including "blank check company," "special-purpose acquisition company," and "public company." These terms are used interchangeably in financial and regulatory contexts to describe its structure and purpose.