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Pershing Square Holdings Ltd. has filed the proposed public offering relating to its subscription warrants to acquire common stock, according to the press release.
The common stock, also known as SPARs, is expected to be offered to the security holders of PSTH for no cost.
The filing happens after, in August, Pershing Square Tontine announced the formation of Pershing Square SPARC Holdings, aiming to give investors transferable and long-dated warrants. The warrants were to allow them to acquire common stock in SPARC.
The move by Pershing Square Tontine to form SPARC responds, in part, to a suit that claims it should be an investment firm that falls under the Investment Company Act of 1940.
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