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  "documentTitle": "Howard Hughes Holdings Inc. (HHH)",
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  "authorName": "William Ackman",
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      "text": "We believe the simplified transaction delivers a better-capitalized post-closing HHH that will be able to begin executing on its new strategy immediately",
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      "text": "(1) The closing price on August 5, 2024, prior to the public disclosure of Pershing Square's August 6 amendment of its Schedule 13D with respect to the company's common stock",
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      "text": "Pershing Square Funds would retain their existing HHH shares",
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      "text": "Investment will be funded by cash on HoldCo's balance sheet and would require no additional capital",
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      "text": "With its additional $900 million primary investment, Pershing Square's ownership of the company (HoldCo and Funds, collectively) would increase from 37.6% to 48.0%",
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      "text": "$90.00 per share represents a 46.4% premium to the $61.46 unaffected price on August 5, 2024",
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      "text": "Pershing Square HoldCo will invest $900 million in a primary purchase of stock at $90/share",
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      "text": "ownership percentage: 48.0%",
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