Offerings // Pershing Square USA, Ltd.

PSUS offering history

Every offering-related filing in Pershing Square USA, Ltd.’s recent SEC record — registrations (announced capacity) kept separate from pricing documents (executed sales). Reviewed 59 filings back to Dec 5, 2023.

Last executed offering

Apr 30, 2026

424B4 — priced deal (shares or notes)

Last registration (announced)

None found

in filings back to Dec 5, 2023

Executed, last 12 months

424B pricings + 8-K 3.02 sales

Registered, last 12 months

S-1/S-3/F-series registrations

Date	Filing		What it means
Apr 30, 2026	424B4 →	EXECUTED	Final prospectus — offering priced (typical for IPOs and marketed share deals)
Apr 28, 2026	EFFECT →	EFFECTIVE	SEC declared a registration effective — selling can begin
Apr 14, 2026	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Apr 14, 2026	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Apr 13, 2026	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Apr 13, 2026	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Mar 10, 2026	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Mar 10, 2026	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Aug 1, 2024	RW →	WITHDRAWN	Registration withdrawn
Jul 25, 2024	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Jul 9, 2024	FWP →	MARKETING	Free-writing prospectus — offering being marketed

PSUS offering-related filings from SEC EDGAR, newest first (capped at 40). Each links to the original document.

Two honest limits. (1) A 424B takedown can price shares or notes— EDGAR’s metadata doesn’t say which, so open the document: large investment-grade filers use these mostly for bond deals (no dilution), small-caps mostly for shares. (2) At-the-market (ATM) programs sell shares gradually and individual sales are not separately filed — the visible footprint is the enabling shelf and its 424B5; actual ATM share counts surface later in the 10-Q/10-K share count. Educational information from public filings, not investment advice.

Is a shelf active now? →Do they need money? →Red flags →Full PSUS workspace →

PSUS offering FAQ

When did PSUS last execute an offering?

Per SEC filings, Pershing Square USA, Ltd.'s most recent priced offering document is a 424B4 filed 2026-04-30. Note a 424B takedown can price shares or notes (debt) — the linked document says which.

When did PSUS last announce or register an offering?

No offering registration (S-1/S-3/F-1/F-3) appears in the filings reviewed back to 2023-12-05.

Does an offering always mean dilution?

Registered direct offerings and shelf takedowns issue new shares and dilute existing holders. Resale registrations (424B3/B7) let existing holders sell and do not create new shares. Secondary sales by insiders also do not dilute. Each row here is labeled with what it is.