Bill Ackman, investor gulps more $100 million Pershing Square shares

Bill ackman

America’s Pershing Square Capital Management, L.P., said its CEO, Bill Ackman, PSH Board Member Nick Botta, members of the PSCM investment team, other PSCM employees, members of the PSCM advisory board, and their affiliates have purchased a total of 6,527,729 PSH Public Shares.

Pershing square said the purchase took place since 10 July 2018, the date of PSH’s most recent press release about the PSCM Affiliates’ ownership of PSH.

The company said in a statement that:

“Since July 10th, Mr. Ackman and his affiliate purchased a total of 5,751,731 Public Shares at an average price of $15.51 per share for a total additional investment of $89.2 million. Over the same period, Mr. Botta purchased a total of 600,000 Public Shares at an average price of $15.25 per share for a total additional investment of $9.2 million.

If all PSH Management Shares were converted to Public Shares, Mr. Ackman would own approximately 32.4 million Public Shares of the Company, or 14.6% of the Company on a fully diluted basis, and, in total, the PSCM Affiliates would own approximately 36.3 million Public Shares or 16.4% of the Company on a fully diluted basis.

The PSCM Affiliates have increased their investment in PSH because they continue to believe that PSH is substantially undervalued.Activist investor, Bill Ackman”

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