Despite the pullback in growth stocks and special purpose acquisition company (SPAC) holdings, that shouldn’t kill the enthusiasm for Social Capital Hedosophia Holdings (NYSE:IPOE). IPOE stock is the holding company that should eventually turn into SoFi.
Just as Chamath Palihapitiya was the face of the SPAC frenzy that gripped financial markets at the start of the year, he is today the face of the bust.
Social Capital Hedosophia Holdings Corp. IV (NYSE:IPOD) is the fourth of a series of SPACs that Chamath is listing. IPOD is publicly traded today, and is trading at a 10% premium to NAV.
Opendoor’s new SPAC deal is just the next way tech disrupts traditional industries — and profits from it. This time, the target is real estate.
Three blank-check companies backed by venture investor Chamath Palihapitiya have raised a total of $2.1 billion through initial public offerings, the companies said in separate statements on Thursday.
U.S. insurance startup Clover Health will go public through a merger with blank-check firm Social Capital Hedosophia Holdings Corp III IPOC.N in a deal valued at $3.7 billion including debt, the company said on Tuesday.
Former Uber Technologies, Inc. executive Emil Michael plans to file for an initial public offering of $250 million for a blank check company whose special advisors include Dr. Eric Schmidt, the Silicon Valley billionaire who was previously CEO of Google and Executive Chairman of Alphabet Inc.
CNBC’s Jim Cramer has been bashing SPACs on Twitter and his show this week. That drew attention from the so-called SPAC King Chamath Palihapitiya.
The SPAC boom just became a little bigger. Gores Holdings IV, a special-purpose acquisition company that raised $425 million at the start of the year, has agreed to combine with United Wholesale Mortgage in a reverse merger that will value the mortgage origination provider at roughly $16.1 billion, marking the largest SPAC merger on record, the company said.
It’s a brilliant, blue-sky afternoon in mid-August, and Bill Ackman is enjoying being, well, Bill Ackman.
Maybe it’s the sun. Or maybe it’s the aftermath of his latest tour de force — the IPO of a $4 billion special-purpose acquisition company, or SPAC, the largest of its kind during a year when such blank-check deals are exploding.
Billionaire Richard Branson, who is founder of the Virgin Group has joined the “blank-check” frenzy and is looking to raise $400 million to fund a possible takeover.