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SoFi and Social Capital did not immediately respond to requests for comment. https://www.forbes.com/.../3-reasons-to-buy-sofi-stock-after-its-spac-ipo Jan. 9, 2021, 07:45 PM . IPOE Stock (SPAC) | SoFi | HUGE BREAKING NEWS ANNOUNCED BY CHAMATH! SPACs Attack Recap: SoFi, IPOE, GXGX, ACEV Deals Plus Rumors And Headlines For Week Ending Jan. 8 By Chris Katje of Benzinga.com Saturday, January 9, 2021 3:52 PM EST The SPACs Attack show airs live on Benzinga YouTube Monday through Friday at 11 A.M. EST breaking down SPAC news and deals, and interviewing CEOs. Founded in 2011, San Francisco-based SoFi capitalized on the retrenchment of banks from large swaths of consumer lending in the aftermath of the 2008 financial crisis. Article content. Online lending startup Social Finance (SoFi) is nearing a deal 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, people familiar with the matter said on Thursday. 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. None other than Anthony Noto, who eventually left Twitter in 2018 to become CEO of SoFi. 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, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. © 2021 CNBC LLC. A Division of NBCUniversal. 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 Why it matters: This crowns SCH's Chamath Palihapitiya as the king of tech unicorn SPACs, following earlier deals for Virgin Galactic and Opendoor. With the holiday and the shortened trading week there weren’t too many exciting announcements but we had lots of Q4 business combinations tying the knot. SoFi nears deal to go public with SPAC backed by venture investor Palihapitiya: Report. Chris Katje, Benzinga. Here is a look back at some of … By Chris on Monday, January 4, 2021. Find the latest SoFi Next 500 ETF (SFYX) stock quote, history, news and other vital information to help you with your stock trading and investing. The merger values SoFi at an equity value of … Publishing date: Jan 07, 2021 • January 7, 2021 • 2 minute read. Perhaps these companies would have merely stayed private sans SPACs. Sign up for free newsletters and get more CNBC delivered to your inbox. We want to hear from you. The merger with Palihapitiya’s SPAC, Social Capital Hedosophia Corp V, will value SoFi at $8.65 billion. Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. The deal values SoFi at $8.65 billion, including the money being contributed as part of the SPAC merger. Data is a real-time snapshot *Data is delayed at least 15 minutes. The company has also branched out into stock trading and cash management accounts. … 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. Author of the article: Reuters. Now that SPAC merger news has IPOD and IPOF stock soaring. If that's true, two cheers for blank-check companies? 3 Reasons To Buy SoFi Stock After Its SPAC IPO Forbes - Peter Cohan. Social Capital Hedosophia Holdings Corp. V. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies. The company said in … Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies, from space tourism firm Virgin Galactic to home-selling platform Opendoor. Get this delivered to your inbox, and more info about our products and services. Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. With that in mind, here is what you need to know about IPOE stock and the SoFi SPAC merger: IPOE stock came public in October 2020, making … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Chamath Palihapitiya announced IPOE would take SoFi public. The deal would value SoFi at more than $6 billion and could be announced in the coming days, the sources said, cautioning that the talks could still collapse and the terms could be changed. BUYING NOW! The new one, SoFi, it's been agreed upon, so it's going public under a SPAC that you can buy on the market right now. The ticker symbol is IPOE, it's one of Chamath's SPACs. SoFi will mark the fourth company taken public by one of Palihapitiya’s Spacs. Financial services platform SoFi Inc. is planning to come public via a merger with a special-purpose acquisition company, or SPAC. Social Finance Inc. is planning for takeovers after agreeing to go public in a merger with a blank-check company that values the upstart at around $8.7 billion. The SPACs … SoFi has been the most anticipated target for the … Continue Reading. SPACs Attack Recap: SoFi, IPOE, GXGX, ACEV Deals Plus Rumors And Headlines For Week Ending January 8. In 2020 the SPAC boom began and in 2021 there are several quite legit entities ready to facilitate some of the bigger IPOs of the year. SoFi nears deal to go public with SPAC backed by venture capital investor Palihapitiya -sources. Image source: Getty Images. Weekly SPAC Rundown 12/28/20 – 1/3/21. This is his fifth SPAC. SoFi is expected to go public through the SPAC route in the first quarter of 2021, according to a press release from SoFi. It started with refinancing student loans and expanded into mortgages and personal loans. Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. TechCrunch fait partie de Verizon Media. The stock made it to $33.05 by early 2018 before stalling out for roughly a year and a half.Related Link: Here's How Much Investing ,000 In JPMorgan Stock 5 … Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies, from space tourism firm Virgin Galactic … Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and London-based Ian Osborne that are currently looking for acquisitions. If we look at the IPOF board of directors, it includes former Twitter CEO, Dick Costolo. The SPAC Deal: SoFI announced a SPAC merger with Social Capital Hedosophia Holdings V (NYSE: IPOE), led by Chamath Palihapitiya. Happy New Years All! SoFi IPO: Stock Coming in 2021 via Palihapitiya's Newest SPAC The stock had been up as much as 78% earlier in the day, with investors … Since SoFi has both a consumer and an enterprise play, it’s really legit and has a 15-25% chance of disrupting the financial sector. The company has also branched out into stock trading and cash management accounts. Shares of Social Capital Hedosophia Holdings V soared 44% Thursday afternoon. PSTH. Reuters reported in December that SoFi had held discussions with SPACs about a merger. It started with refinancing student loans and expanded into mortgages and personal loans. As an investor since 2014 in San Francisco-based Social Finance (SoFi) — an online provider of student loan refinancing, mortgages, personal loans, stock and cryptocurrency trading, and wealth management services — I was pleased to learn that it is poised to go public in a deal that will value the … SoFi said it expects to generate about $1 billion of adjusted net revenue in 2021, a 60% jump year-over-year. Got a confidential news tip? 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. All Rights Reserved. SoFi is going public via a SPAC backed by billionaire investor Chamath Palihapitiya, according to an announcement made on CNBC on Thursday. You may have seen recently that SoFi is in talks with SPACs.. If you are not familiar with what they are, check out this article where we break them down in detail. Popularity of SPACs . Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. SoFi exceeded my expectations, kudos to Spac King Chamath for landing that winner racehorse! Reuters reported in December that SoFi had held discussions with SPACs … Stocks Keywords Contributors Users. 100% pure SPACulation here, but I think IPOF will merge with SoFi. Many of the 2020 SPACs were high-risk in bubble territory, like the EV sector. 1. Private Company: SoFi Chamath Palihapitiya made waves when he announced the fifth Social Capital Hedosophia SPAC would take SoFi public. In 2020, some 445 total IPOs took place in the US. The fintech follows in the footsteps of Virgin Galactic (late 2019), Opendoor Technologies (last month), and Clover Health (this month). SoFi, a San Francisco-based personal finance company, agreed to go public via a reverse merger with a blank-check company called Social Capital Hedosophia Holdings Corp. V at an $8.65 billion valuation. Special Purpose Acquisition Companies or SPACs are owning 2021, so let’s discuss some of the best SPACs to buy. 2021: A SPAC odyssey A … Founded in 2011, San Francisco-based SoFi capitalized on the retrenchment of banks from large swaths of consumer lending in the aftermath of the 2008 financial crisis. Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and London … The sources requested anonymity because the negotiations are confidential. Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and … Joshua Franklin and Anirban Sen and Krystal Hu. The pending merger … The key investor takeaway is that SoFi is an appealing investment once the business combination with the IPOE SPAC closes in a few months. Also surprised that IPOE announced merge before IPOD & IPOF but not complaining since I own all 3 Spacs. 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