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IPOE : PRICE ACTION & VOLUME / MOMENTUM TRADE
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SoFi going public at $8.65B valuation via merger with Chamath's Social Capital
Jan. 07, 2021 10:59 AM ETSocial Capital Hedosophia Holdings Corp. V ( IPOE )By: Liz Kiesche, SA News Editor
Social Capital Hedosophia Holdings Corp. V (NYSE:IPOE) soars 30% after Sofi Finance (SOFI) confirmed a Reuters report that online lending startup is nearing a deal to go public by merging with the blank check company lead by VC investor Chamath Palihapitiya.
Update 12pm: Palihapitiya confirmed the news in interview on CNBC and a press release was issued
Transaction values SoFi at an equity value of $8.65B post-money and is expected to provide up to $2.4B in cash proceeds, including a fully committed PIPE of $1.2B, and up to
80M of cash held in the trust account of Social Capital Hedosophia.
Palihapitiya-sponsored special purpose acquisition companies have already signed deals to take Opendoor and Clover Health public via mergers.
seekingalpha.com/news/3649673-sofi-going-public-8_65b-valuation-via-merger-chamaths-social-capital
SoFi going public at $8.65B valuation via merger with Chamath's Social Capital
Jan. 07, 2021 10:59 AM ETSocial Capital Hedosophia Holdings Corp. V ( IPOE )By: Liz Kiesche, SA News Editor
Social Capital Hedosophia Holdings Corp. V (NYSE:IPOE) soars 30% after Sofi Finance (SOFI) confirmed a Reuters report that online lending startup is nearing a deal to go public by merging with the blank check company lead by VC investor Chamath Palihapitiya.
Update 12pm: Palihapitiya confirmed the news in interview on CNBC and a press release was issued
Transaction values SoFi at an equity value of $8.65B post-money and is expected to provide up to $2.4B in cash proceeds, including a fully committed PIPE of $1.2B, and up to
80M of cash held in the trust account of Social Capital Hedosophia. Palihapitiya-sponsored special purpose acquisition companies have already signed deals to take Opendoor and Clover Health public via mergers.
seekingalpha.com/news/3649673-sofi-going-public-8_65b-valuation-via-merger-chamaths-social-capital
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