Social Capital Hedosophia (IPOA) Releases Details of Shareholder Vote
by Kristi Marvin on 2019-10-23 at 7:33pm

Late this afternoon, Social Capital Hedosophia Acquisition Corp. (IPOA), released the details of their shareholder vote to approve their business combination with Virgin Galactic and the results were, for the most part, as expected. This combination was approved by shareholders, and the results are highlighted below, however, the language around the closing feels a little squishy. To wit, found in the 8-K: “Though not guaranteed, SCH expects to close the Business Combination on October 25, 2019, subject to customary closing conditions, and for the VGH, Inc. units, common stock and warrants to begin publicly trading on the New York Stock Exchange under the new symbols SPCE.U, SPCE and SPCE WS, respectively on October 28, 2019.”  Typically, it is worded as, “It is expected that….”, so, “Though not guaranteed” feels a bit atypical.

Nonetheless, Social Capital Hedosophia did not release the details of their redemptions (if any), i.e., how many, at what price, etc., so we’ll have to wait for that information, but it seems very unlikely that this transaction would not close, regardless of language.  This train has already left the station and been to a few stops already.

Post-expected closing on Friday, October 25th, it will be interesting to see what sort of IR/PR push is in store and where the share price trades given the recent gyrations in price.  However, now that the shareholder vote is over and done with, this company is cleared for take off (pun intended), i.e., going forward is when we really get to see what more traditional investors actually think of this company.

Once additional information is published regarding redemptions and the new float count, an update will be published. In the meantime, you can find the vote results HERE and a summary below.

 

RESULTS:

 

FORAGAINSTABSTAINBROKER NON-VOTES
58,700,1212,547,135 107,700N/A
Social Capital Hedosophia (IPOA) Releases Details of Shareholder Vote
Recent Posts
by Nicholas Alan Clayton on 2025-07-17 at 12:54pm

Cantor Equity Partners I (NASDAQ:CEPO) has entered into a definitive agreement to combine with Bitcoin Standard Treasury in a transaction that is worth about $4.8 billion. Bitcoin Standard Treasury aims to bring in capital from a number of equity instruments to build up one of the largest US-listed Bitcoin treasuries. The combined company is expected...

by Nicholas Alan Clayton on 2025-07-17 at 8:29am

At the SPAC of Dawn Several de-SPACs have made market-moving announcements recently and they haven’t forgotten to cash in on them. Fresh off of announcing $500 million strategic investment and partnership with Apple (NASDAQ:AAPL), rare earth miner MP Materials (NYSE:MP) has followed that up with a $500 million public offering, netting the company a cool...

by Kristi Marvin on 2025-07-16 at 5:33pm

Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...

by Nicholas Alan Clayton on 2025-07-16 at 8:18am

At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...

by Nicholas Alan Clayton on 2025-07-15 at 7:20pm

Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved