Pershing Square Sparc Holdings Ltd
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A special purpose acquisition rights company (SPARC) created by billionaire investor Bill Ackman's Pershing Square Capital Management. Unlike a traditional SPAC, it doesn't raise money upfront — instead it grants rights that let holders invest later once a target acquisition is announced. It was formed in 2022 as a vehicle to take a private company public.
Special Purpose Acquisition Rights (SPARs) - non-transferable subscription warrants distributed to former PSTH shareholders — Non-transferable rights; will become tradeable on OTCQX after SPARC announces a business combination