Corporate ActionMay 1, 2026, 05:01 PM
Pershing Square Secures $350M Credit Facility, Sells 16.6M Shares
AI Summary
Pershing Square Inc., in connection with its initial public offering, entered into a Credit Agreement for $350 million, comprising a $250 million revolving facility and a $100 million term loan facility. Proceeds from these facilities were used to finance an additional investment in Pershing Square USA, Ltd. The company also completed a private placement of 16,643,862 shares of Common Stock and adopted its 2026 Equity Incentive Plan. Additionally, several registration rights agreements were established to facilitate future liquidity.
Key Highlights
- Secured $250,000,000 senior secured revolving credit facility.
- Secured $100,000,000 senior secured term loan facility.
- Total Senior Credit Facilities amount to $350,000,000.
- Used proceeds from facilities to finance additional investment in Pershing Square USA, Ltd.
- Delivered 16,643,862 shares of Common Stock in a private placement.
- Senior Credit Facilities mature on April 30, 2029.
- Adopted the Pershing Square Inc. 2026 Equity Incentive Plan.
- Entered into three Registration Rights Agreements and a Fourth Amended and Restated Agreement of Limited Partnership.