On August 24, 2021, William Ackman, who launched the biggest-ever special-purpose acquisition company, said he remains committed to finding a merger partner for his blank-check company Pershing Square Tontine Holdings Ltd (PSTH). William Ackman stated that he remains committed to finding a transaction for PSTH, if he has not done so by the time SPARC is approved, he will then continue to pursue a business combination, on behalf of SPARC rather than PSTH. Ackman created the SPARC as part of a deal to buy a stake in Universal Music Group (UMG), which he proposed earlier for Pershing Square Tontine Holdings but abandoned amid regulatory questions. In addition, William Ackman said again he thinks regulators should grant approval to his SPARC within a reasonable time frame, that is in months not years and said investors could help the process by contacting the U.S. Securities and Exchange Commission and the New York Stock Exchange.