SoFi is expected to go public through the SPAC route in the first quarter of 2021, according to a press release from SoFi. The deal will need approval from SCH shareholders and any regulatory approvals. Article content. SoFi to go public at $8.65bn valuation through SPAC merger. 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. Palihapitiya’s first blank-check company, Social Capital Hedosophia, merged with Virgin Galactic (SPCE) in 2019. Someone who wants to purchase pre-IPO shares of a company can check for filings on platforms like SPAC Research and SPAC Insiders. 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. 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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. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. New spac merger news. The SoFi IPO is confirmed in a press release from January 7. 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. Read more. It started with refinancing student loans and expanded into mortgages and personal loans. 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. By. Financial services provider SoFi has held talks with several special-purpose acquisition companies in a bid to go public, according to Reuters. By Joshua Franklin, Anirban Sen and Krystal Hu. Update January 7, 2020: Includes official deal details from SoFi. Social Capital Hedosophia Holdings Corp V is his third SPAC. This is Chamath Palihapitiya newest SPAC merger. 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. The online lending platform agreed to merge with Social Capital Hedosophia Holdings Corp V IPOE.N. SoFi going public at $8.65B valuation via merger with Chamath's Social Capital Jan. 07, 2021 10:59 AM ET Social Capital Hedosophia Holdings Corp. V (IPOE) By: Liz Kiesche , … Native Americans sue Trump administration over Arizona copper project, Emirates president says Boeing 777x entry to service may slip to 2023 'or even longer', BUZZ-U.S. STOCKS ON THE MOVE-Zoom Video Communications, Inari Medical, Lordstown Motors, Rockwell Medical, Emirates boss says Boeing must recognize top-down role in MAX flaws, var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /(^[A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~][A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~\.]{0,62}@(([A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])?)(\.[A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])? Yes! "We look forward to partnering with Anthony and his team as they help even more members to achieve financial independence," Palihapitiya said. He raised $600 million for his first SPAC, Social Capital Hedosophia Holdings, in 2017. 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? AST SpaceMobile to Go Public Through SPAC Merger Deal With NPA in 2021, Why Direct Listing Is a Good Alternative for Companies. The company's most recent funding round valued SoFi … It was widely reported about a month ago that SoFi was considering a 2021 IPO using a SPAC merger. SoFi to go public through SPAC merger at $8.6B valuation. SoFi to Go Public Through SPAC Merger at $8.6B Valuation - CoinDesk. The San Francisco-based business reached a valuation of $5.8 billion earlier this year, according to a PitchBook estimate. Author of the article: Reuters. The company expects revenue of about $1 billion in 2021. The pending merger … 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. 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. Last week saw a flurry of activity in the SPAC world with several deals announced, merger vote dates and a new SPAC ETF. 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. 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. Joshua Franklin and Anirban Sen and Krystal Hu. Fintech company SoFi, or Social Finance, is set to go public sometime in 2021 with the investment of a SPAC (special purpose acquisition company). The company confirmed the rumors, according to TechCrunch. The SPAC Deal: SoFI announced a SPAC merger with Social Capital Hedosophia Holdings V (NYSE: IPOE), led by Chamath Palihapitiya. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? 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. From SCH shareholders and any regulatory approvals ’ s third SPAC with a company! 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