sofi spac merger date

Online lender SoFi to go public through merger with Palihapitiya-backed SPAC Back to video Reuters had reported earlier on Thursday that SoFi and Social Capital were nearing a deal to merge. The deal will need approval from SCH shareholders and any regulatory approvals. (Reuters) -U.S. online lending startup Social Finance Inc (SoFi) said on Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. The company has also branched out into stock trading and cash management accounts. By. Alternative Lending. (Reporting by Joshua Franklin in Miami, Anirban Sen in Bangalore and Krystal Hu in New York; Editing by Steve Orlofsky and Matthew Lewis), ((joshua.franklin@thomsonreuters.com; +1 646-223-6356; Reuters Messaging: joshua.franklin.thomsonreuters.com@reuters.net)). The Motley Fool reported that the SPAC raised about $800 million in an IPO in 2020 and had been searching for a company to acquire. SoFi CEO on company outlook after SPAC merger January 8, 2021, 10:20 AM Yahoo Finance’s Brian Sozzi, Julie Hyman, and Myles Udland speak with SoFi CEO Anthony Noto about the company’s SPAC merger. Why SoFi? Let's dive into my SoFi (IPOE) stock analysis. Author of the article: Reuters. Create your Watchlist to save your favorite quotes on Nasdaq.com. The SPAC Deal: SoFI announced a SPAC merger with Social Capital Hedosophia Holdings V (NYSE: IPOE), led by Chamath Palihapitiya. A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held company that then becomes publicly traded as a result. He took Virgin Galactic public this way in 2019 as well as Opendoor and Clover Health in 2020. All Hands On Data - A Tableau Series ... SoFi’s SPAC-Enabled Public Offering. SoFi Agrees to Go Public Via SPAC With Valuation of $8.7 Billion. This is Chamath Palihapitiya newest SPAC merger. The Motley Fool stated that SoFi is valued at $8.65 billion in the acquisition deal, which includes funds being contributed as part of the SPAC merger. His second merged with Opendoor in 2020. The deal, confirmed by SoFi, would value the fintech at $8.65 billion according to the company's statement. SoFi to Go Public Through SPAC Merger at $8.6B Valuation Lending fintech Social Finance (SoFi) said Thursday it will go public through a merger with a special purpose acquisition company. TechCrunch explained that the deal includes $2.4 billion in cash. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. It was widely reported about a month ago that SoFi was considering a 2021 IPO using a SPAC merger. The company's most recent funding round valued SoFi … Shahien Nasiripour. Fintech company SoFi, or Social Finance, is set to go public sometime in 2021 with the investment of a SPAC (special purpose acquisition company). Publishing date: Jan 07, 2021 • January 7, 2021 • 2 minute read. 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What Should Investors Know Ahead Of The Potential Lucid Motors SPAC Merger? Sofi announced to go public via spac rout! These symbols will be available throughout the site during your session. SoFi joins the so-called SPAC IPO boom by merging with Social Capital Hedosophia Holdings V. The Wall Street Journal reported that U.S.-listed SPACs raised $82 billion in 2020, which was more than six times what was raised by SPACs the previous year. Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. They have emerged as a popular IPO alternative for companies, providing a path to going public with less regulatory scrutiny and more certainty over the valuation that will be attained and funds that will be raised. Big news from SoFi today. January 7, 2021, 10:13 AM PST. Half of the amount is from a confirmed private placement, $805 million from the SPAC balance sheet, and additional funding invested in SoFi by T. Rowe Price. Top SPAC Merger News This Week: SoFi, Clover Health, Lion Electric and 6 More Hot SPACs Did you miss the SPAC merger news this week? Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The deal values SoFi at around $8.65 billion and is expected to provide up to $2.4 billion in cash proceeds to San Francisco-based SoFi. Hennessy Capital IV shareholders are set to vote Dec. 21 on the SPAC's proposed business combination with Canoo Holdings, which designs and manufactures electric vehicles. They have emerged as a popular IPO alternative for companies, providing a path to going public with less regulatory scrutiny and more certainty over the valuation that will be attained and funds that will be raised. The deal has already been unanimously approved by the SPAC's and SoFi's board of directors. SoFi nears deal to go public with SPAC backed by venture capital investor Palihapitiya -sources. TechCrunch gives Palihapitiya credit for most of SPACs' popularity in the past year and a half. Article content. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies, from space tourism firm Virgin Galactic Holdings Inc SPCE.N to home-selling platform Opendoor Technologies Inc OPEN.O. Shares of Social Capital closed up 58% at $19.17 apiece. Financial services platform SoFi Inc. is planning to come public via a merger with a special-purpose acquisition company, or SPAC. Online lending startup Social Finance Inc (SoFi) said on Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. SoFi is expected to go public through the SPAC route in the first quarter of 2021, according to a press release from SoFi. )+)$)/i, failureMessage: "A valid email address is required"});field1.add(Validate.Format, {pattern: /\.\.|\. The company said in October it had received preliminary, conditional approval from the U.S. Office of the Comptroller of the Currency in its application for a national bank charter. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Founded in 2011, SoFi capitalized on the retrenchment of banks from large swaths of consumer lending in the aftermath of the 2008 financial crisis. Does It Pay to Buy IPO Stock on the First Trading Day? The publicly traded SPAC, Social Capital Hedosophia Holdings Corp. V (NYSE:IPOE) has agreed to merge with SoFi in a deal that values the fintech at $8.65 billion. SoFi will go public through a so-called reverse merger with a blank-check company that is already public. SoFi to Go Public Through SPAC Merger at $8.6B Valuation - CoinDesk. When a SPAC, a shell company, raises money through an IPO to merge with a private company, the private company becomes publicly traded. The company confirmed the rumors, according to TechCrunch. Exclusive: SoFi nears deal to go public with SPAC backed by venture investor Palihapitiya … Units of Social Capital Hedosophia Holdings Corp V had jumped as much as 47.9% following the report and were trading up 29.7% at $15.72 before the stock was halted. AST SpaceMobile to Go Public Through SPAC Merger Deal With NPA in 2021, Why Direct Listing Is a Good Alternative for Companies. The San Francisco-based business reached a valuation of $5.8 billion earlier this year, according to a PitchBook estimate. Rumors of an IPO through a SPAC started about a month ago. Jan 7 (Reuters) - Online lending startup Social Finance Inc (SoFi) said on Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V IPOE.N, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. Later that month, it emerged that SoftBank plans to raise up to $525 million with the IPO of its own Spac, according to a regulatory filing. Financial services provider SoFi has held talks with several special-purpose acquisition companies in a bid to go public, according to Reuters. Rights to redeem shares expire Dec. 17, the SPAC said in a press release. Social Capital Hedosophia Holdings is Chamath Palihapitiya's blank-check company. Update January 7, 2020: Includes official deal details from SoFi. SoFi going public at $8.65B valuation via merger with Chamath's Social Capital Jan. 07, 2021 10:59 AM ET Social Capital Hedosophia Holdings Corp. V (IPOE) By: Liz Kiesche , … EXCLUSIVE-SoFi to go public through merger with Palihapitiya-backed SPAC Jan 7, 2021 REUTERS NEXT-AirAsia Group "joined at hip" with Airbus despite cancellations Jan 11, 2021 The SoFi IPO is confirmed in a press release from January 7. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, Nasdaq Boardvantage Board Portal Software, joshua.franklin.thomsonreuters.com@reuters.net, EXCLUSIVE-Online lender SoFi explores deal to go public -sources, Do Not Sell My Personal Information (CA Residents Only). A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held company that then becomes publicly traded as a result. SoFi says it will go public via a merger with a SPAC backed by Chamath Palihapitiya at a valuation of $8.65B — - Fintech start-up SoFi says it will merge with a special purpose acquisition company, or SPAC, backed by venture capital investor Chamath Palihapitiya. Paysafe, the Isle of Man-based multinational payments company, announced in December it was merging with a Bill Foley-backed Spac to list at an impressive $9 billion valuation. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;i

sofi spac merger date 2021