Bill Ackman's blank check company raises $4 billion in biggest U.S. SPAC IPO

Billionaire investor Bill Ackman backed Pershing Square Tontine Holdings Ltd has raised $4 billion in its U.S. initial public offering, in the largest listing ever by a special purpose acquisition company (SPAC).

FILE PHOTO: Bill Ackman, CEO of Pershing Square Capital, speaks at the Wall Street Journal Digital Conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike Blake

The forward purchaser, including three funds owned by Pershing Square Capital Management, has the right to buy up to an additional $2 billion units, the SPAC said.

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