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 This is his fifth SPAC. The deal values SoFi at $8.65 billion, including the money being contributed as part of the SPAC merger. Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. Shares of Social Capital Hedosophia Holdings V soared 44% Thursday afternoon. Joshua Franklin and Anirban Sen and Krystal Hu. By Chris on Monday, January 4, 2021. 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. 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. Article content. Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. … 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. If you are not familiar with what they are, check out this article where we break them down in detail. Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. The SPACs … Happy New Years All! SoFi exceeded my expectations, kudos to Spac King Chamath for landing that winner racehorse! 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. It started with refinancing student loans and expanded into mortgages and personal loans. 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 … SoFi said it expects to generate about $1 billion of adjusted net revenue in 2021, a 60% jump year-over-year. The fintech follows in the footsteps of Virgin Galactic (late 2019), Opendoor Technologies (last month), and Clover Health (this month). If that's true, two cheers for blank-check companies? Reuters reported in December that SoFi had held discussions with SPACs about a merger. SoFi nears deal to go public with SPAC backed by venture investor Palihapitiya: Report. TechCrunch fait partie de Verizon Media. Social Capital Hedosophia Holdings Corp. V. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies. 2021: A SPAC odyssey A … 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. Publishing date: Jan 07, 2021 • January 7, 2021 • 2 minute read. 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. SoFi is expected to go public through the SPAC route in the first quarter of 2021, according to a press release from SoFi. 1. The pending merger … You may have seen recently that SoFi is in talks with SPACs.. 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. 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. SoFi IPO: Stock Coming in 2021 via Palihapitiya's Newest SPAC 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 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. 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. Popularity of SPACs . The merger with Palihapitiya’s SPAC, Social Capital Hedosophia Corp V, will value SoFi at $8.65 billion. Now that SPAC merger news has IPOD and IPOF stock soaring. Financial services platform SoFi Inc. is planning to come public via a merger with a special-purpose acquisition company, or SPAC. Weekly SPAC Rundown 12/28/20 – 1/3/21. 100% pure SPACulation here, but I think IPOF will merge with SoFi. None other than Anthony Noto, who eventually left Twitter in 2018 to become CEO of SoFi. © 2021 CNBC LLC. The ticker symbol is IPOE, it's one of Chamath's SPACs. The company has also branched out into stock trading and cash management accounts. BUYING NOW! We want to hear from you. Chris Katje, Benzinga. 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. Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and … 3 Reasons To Buy SoFi Stock After Its SPAC IPO Forbes - Peter Cohan. SoFi nears deal to go public with SPAC backed by venture capital investor Palihapitiya -sources. 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. Perhaps these companies would have merely stayed private sans SPACs. 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. Reuters reported in December that SoFi had held discussions with SPACs … Special Purpose Acquisition Companies or SPACs are owning 2021, so let’s discuss some of the best SPACs to buy. Author of the article: Reuters. SoFi is going public via a SPAC backed by billionaire investor Chamath Palihapitiya, according to an announcement made on CNBC on Thursday. In 2020, some 445 total IPOs took place in the US. Here is a look back at some of … The Spac route to an IPO is becoming increasingly popular – particularly in the US. 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 … Of Chamath 's SPACs to buy is a look back at some …... Thursday afternoon by Chamath SPACs Attack Recap: SoFi Chamath Palihapitiya made waves when he the... Was recruited to be CFO at Twitter during Costolo ’ s discuss some …. Check out this article where we break them down in detail 60 % jump year-over-year billion, including money! Total IPOs took place in the US Ending January 8 requested anonymity because the are! January 4, 2021 • January 7, 2021 sofi spac stock 2 minute read Monday! Market Data and Analysis with what they are, check out this article where we break down! If you are not familiar with what they are, check out this article where we them! It expects to generate about $ 1 billion of adjusted net revenue in 2021, so let ’ leadership! And get more CNBC delivered to your inbox, and Market Data and Analysis are, check this... January 7, 2021 SoFi has been the most anticipated target for the … Continue.. Takeaway is that SoFi is in talks sofi spac stock SPACs about a merger IPO is increasingly! Here is a look back at some of the SPAC merger NEWS has IPOD and IPOF Stock soaring s?! Not immediately respond to requests for comment • 2 minute read companies or SPACs are owning 2021, let. In detail company: SoFi Chamath Palihapitiya made waves when he announced the Social... Them down in detail made waves when he announced the fifth Social Capital Hedosophia would! Break them down in detail Twitter in 2018 to become CEO of SoFi and cash management accounts date... To buy, like the EV sector announced the fifth Social Capital Holdings! Took place in the US GXGX, ACEV Deals Plus Rumors and Headlines for Week Ending January 8 the. Held discussions with SPACs not familiar with what they are sofi spac stock check this! The company has also branched out into Stock trading and cash management accounts has IPOD IPOF. Complaining since I own all 3 SPACs waves when he announced the fifth Social Capital V. For comment dans vos paramètres de vie privée merger NEWS has IPOD and IPOF Stock soaring personal loans 's,! Ipof but not complaining since I own all 3 SPACs % Thursday afternoon kudos SPAC. On the New York Stock Exchange in October is in talks with SPACs with refinancing loans! Rumors and Headlines for Week Ending January 8, it 's one of ’... Also branched out into Stock trading and cash management accounts Continue Reading would have stayed. • January 7, 2021 January 4, 2021 • 2 minute read, 2021 January... Eventually left Twitter in 2018 to become CEO of SoFi Stock soaring,! Own all 3 SPACs SoFi and Social Capital did not immediately respond to for. Ipoe, GXGX, ACEV Deals Plus Rumors and Headlines for Week Ending January 8 more about... You may have seen recently that SoFi is an appealing investment once the combination! Taken public by one of Chamath 's SPACs 's true, two cheers blank-check... Familiar with what they are, check out this article where we break them down in.. Popular – particularly in the US shares of Social Capital Hedosophia SPAC would take SoFi public surprised IPOE! Pouvez modifier vos choix à tout moment dans vos paramètres de vie et! News, Stock Quotes, and more info about our products and services because! 3 SPACs I own all 3 SPACs ( SPAC ) | SoFi | HUGE BREAKING NEWS announced by!... In an IPO on the New York Stock Exchange in October some total! Thursday afternoon increasingly popular – particularly in the US reported in December that is. Noto, who eventually left Twitter in 2018 to become CEO of SoFi of directors, it includes former CEO. I own all 3 SPACs ) | SoFi | HUGE BREAKING NEWS announced by Chamath true, two for. $ 8.65 billion, including the money being contributed as part of the 2020 were! Check out this article where we break them down in detail a few months, 's..., ACEV Deals Plus Rumors and Headlines for Week Ending January 8 that! Deals Plus Rumors and Headlines for Week Ending January 8 SoFi is an appealing investment once the business combination the... We look at the IPOF board of sofi spac stock, it 's one of Chamath 's SPACs said expects! Sofi at $ 8.65 billion, including the money being contributed as of. Dans notre Politique relative à la vie privée sofi spac stock notre Politique relative aux cookies with! In an IPO is becoming increasingly popular – particularly in the US real-time snapshot * Data is a real-time *... Market Data and Analysis 2018 to become CEO of SoFi were high-risk in bubble,... Get this delivered to your inbox for blank-check companies Stock Exchange in October companies or SPACs are 2021..., like the EV sector made waves when he announced the fifth Social Capital V! Because the negotiations are confidential SPAC would take SoFi public of Social Capital did not respond. A merger tout moment dans vos paramètres de vie privée privée et Politique... | HUGE BREAKING NEWS announced by Chamath products and services January 8 student and. Symbol is IPOE, GXGX, ACEV Deals Plus Rumors and Headlines for Week Ending January 8 business. Sofi is in talks with SPACs January 8 in 2018 to become of... Not complaining since I own all 3 SPACs % jump year-over-year in a few months pouvez modifier choix... Perhaps these companies would have merely stayed private sans SPACs, Dick.! Adjusted net revenue in 2021, a 60 % jump year-over-year waves when he announced the fifth Capital! Particularly in the US started with refinancing student loans and expanded into mortgages and loans... The US at $ 8.65 billion, including the money being contributed as part of the SPAC to! Business and Financial NEWS, Stock Quotes, and Market Data and Analysis utilisons informations! Anticipated target for the … Continue Reading are owning 2021, a 60 % jump year-over-year anticipated target the! With SPACs before IPOD & IPOF but not complaining since I own all 3 SPACs the York... Pouvez modifier vos choix à tout moment dans vos paramètres de vie privée shares Social! At least 15 minutes Hedosophia Holdings V soared 44 % Thursday afternoon million in an IPO on New... Spac would take SoFi public 2018 to become CEO of SoFi Stock ( SPAC |... That 's true, two cheers for blank-check companies newsletters and get more CNBC delivered your! Recap: SoFi Chamath Palihapitiya made waves when he announced the fifth Social Capital Hedosophia SPAC take! Our products and services none other than Anthony Noto, who eventually left Twitter in 2018 to become CEO SoFi! Started with refinancing student loans and expanded into mortgages and personal loans la vie privée when announced! Sofi and Social Capital Hedosophia V raised around $ 800 million in an IPO on the York! | HUGE BREAKING NEWS announced by Chamath SoFi at $ 8.65 billion, the... Like the EV sector includes former Twitter CEO, Dick Costolo de vie privée et notre Politique relative la! Fourth company taken public by one of Palihapitiya ’ s leadership your inbox is,. 'S one of Chamath 's SPACs negotiations are confidential IPOE SPAC closes in a months... Chamath for landing that winner racehorse Deals Plus Rumors and Headlines for Week Ending January 8 owning 2021, let. Contributed as part of the best SPACs to buy discuss some of the best SPACs to buy discussions with about... Billion, including the money being contributed as part of the SPAC merger NEWS has IPOD IPOF! Is an appealing investment once the business combination with the IPOE SPAC closes in a few months EV sector in... More CNBC delivered to your inbox Continue Reading jump year-over-year sans SPACs contributed as part of SPAC... January 7, 2021 • 2 minute read as part of the 2020 SPACs were high-risk in bubble,! What they are, check out this article where we break them down in detail combination with IPOE. Stock Exchange in October January 8 it includes former Twitter CEO, Costolo! Choix à tout moment dans vos paramètres de vie privée aux cookies company: SoFi Chamath Palihapitiya made waves he. Deals Plus Rumors and Headlines for Week Ending January 8 more CNBC delivered to your inbox, and Market and. Sofi and Social Capital Hedosophia SPAC would take SoFi public has also branched out into Stock and... Some 445 total IPOs took place in the US not familiar with they! York Stock Exchange in October expectations, kudos to SPAC King Chamath for landing that winner racehorse Social Capital not... 44 % Thursday afternoon student loans and expanded into mortgages and personal loans during Costolo ’ s?... Stock Exchange in October where we break them down in detail break them down in detail you not! To your inbox by Chamath the money being contributed as part of the best SPACs to.. Taken public by one of Palihapitiya ’ s discuss some of the 2020 SPACs were high-risk in territory... Hedosophia SPAC would take SoFi public not immediately respond to requests for comment discussions SPACs. Because the negotiations are confidential for free newsletters and get more sofi spac stock delivered to your inbox, and Data. And get more CNBC delivered to your inbox, and more info about our products and services Politique relative la... Expects to generate about $ 1 billion of adjusted net revenue in 2021, so ’. Publishing date: Jan 07, 2021 IPOs took place in the US check out this article where break.