PSTH Universal Music Group SPAC Deal Explained

Written by Donnie Nguyen

June 26, 2021

Bill Ackman’s SPAC, Pershing Square Tontine Holdings (PSTH) has finally announced its target – Universal Music Group (“UMG”). This SPAC deal is complicated.

In this video, I cover:

1:53 PSTH UMG Deal Overview


2:56 Will UMG Be Listed on an American Exchange?

3:37 How Many Shares of UMG Will We Get?

4:11 PSTH RemainCo

5:23 What Happens to Our 2/9th Tontine Warrants?

6:21 SPARC and SPARC Warrants


8:16 Warrant Exchange Offer

9:17 What if We Don’t Exchange Our Warrants?

9:46 PSTH UMG Summary

DISCLAIMER: I'm not a financial advisor. These are my opinions and provided "as-is". It is not an offer to buy or sell securities. Read the Terms and Conditions.

What do you think about the PSTH – Universal Music Group deal? Leave me a comment below. Thanks for watching.



I/we own shares of PSTH

Except for Wolves of Investing, I/we are not receiving any compensation from and do not have any business dealings with any companies whose stocks are discussed in this article.

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5 months ago

Thanks for the video. What is the difference between PSTH and PSTH.WS?

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Donnie Nguyen

Donnie Nguyen

Donnie Nguyen is the founder and CEO of Wolves of Investing. He started investing in the stock market in the early 2000s. He follows the teachings of Peter Lynch, Warren Buffett, and other investing legends. When he's not investing or blogging, he loves spending time with his family traveling and experiencing the world.

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