SoFi Technologies Inc., the student-loan operator and stocks-trading platform, jumped 12% in its Nasdaq debut after merging with investor Chamath Palihapitiya’s blank-check company earlier this year.
Chamath Palihapitiya’s Social Capital Hedosophia Holdings V (NYSE:IPOE) has been a hot stock of late. Like other celebrity SPAC IPOs, investors have piled into IPOE stock in anticipation of what could turn out to be high-quality merger targets.
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.
Going public through a special purpose acquisition company is officially mainstream. Special purpose acquisition companies, once looked down upon by Wall Street-types as a less respectable way to go public, have been forming and going public at an unprecedented pace this year.
SPAC boom skeptics are betting against deals including Social Finance, Lucid and Lordstown Motors. Short sellers are coming for SPACs.
It was another busy week for the SPAC market with numerous deal announcements and rumored deals. Benzinga’s “SPACs Attack” covered the deals and news of the week.
The Investor Presentation for the SoFi and Social Capital Hedosophia V merger is now available.
Social Finance, Inc. (“the Company” or “SoFi”), a leading next-generation financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly traded special purpose acquisition company, to bring a major consumer-focused financial technology business to the public markets.
Online lending startup Social Finance Inc (SoFi) has held discussions with blank-check acquisition companies about a deal that would allow it to debut in the stock market, people familiar with the matter said on Monday.
t might be hard in the midst of roaring markets and headlines trumpeting Dow 30,000 to remember that one of 2020’s highest high-flyers has been the special purpose acquisition corporation, or SPAC.