Bill Ackman’s Pershing Square USA Ltd. (PSUS), a closed-end fund, and Pershing Square Inc. (PS), the management company for Ackman’s funds, raised about $5 billion through a combined IPO and private placement on Tuesday night, April 28, 2026, the company said. The IPO was priced at $50.00 per share. The private placement alone raised about $2.8 billion. (Editor’s Note: This update shows NYSE opening trades on Wednesday, April 29, 2026, for Pershing Square USA and Pershing Square Inc.)
Shares of Pershing Square USA (PSUS), the closed-end fund, opened on the New York Stock Exchange at $42.00 – down $8.00 for a 16 percent drop from their IPO price – while shares of Pershing Square Inc. (PS), the hedge fund manager, started NYSE trading at $24.00 – on Wednesday afternoon, April 29, 2026.
Pershing Square USA (PSUS) shares closed at $40.90 – down $9.10 for an 18.2 percent drop from their $50.00 IPO price – on Wednesday, April 29, 2026 – their first day of NYSE trading. Pershing Square Inc. (PS) shares ended their first day of NYSE trading at $24.20.
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