You have to feel for billionaire Bill Ackman. His special purpose acquisition company, Pershing Square Tontine Holdings (PSTH, or Tontine), which did a $4 billion IPO back in 2020, only has about six more weeks to find an acquisition target before it has to return all that cash to shareholders.
If it hasn’t signed a letter of intent with a target by July 24, then that is most likely what will happen.
If so, it will be a disappointing end to something that had promised to shake up the world of Spacs.
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