Well, well, well…..looks like Social Capital Hedosophia, will beat Chardan Healthcare 2 to the punch by being the first IPO out the door post-Covid lockdown. Social Capital Hedosophia intends to price the larger of their two deals tonight (IPOC.U), for trading Wednesday, at $600 million in gross proceeds.
If you recall, Social Capital Hedosophia III (IPOC.U) intends to focus on technology companies OUTSIDE the United States, whereas Social Capital Hedosophia II (IPOB.U), the smaller of the two at $300 million, intends to focus on technology companies IN the United States. Perhaps Chamath and the team feel there are better opportunities abroad? Or maybe since it’s the bigger deal, he’s hoping to find an attractive unicorn now that the traditional IPO window is effectively shut. Or it could be they just want to get the harder deal done first (it’s not easy raising $600 million). Probably all of the above.
Regardless, both IPOB.U and IPOC.U, recently re-filed and changed their warrants from 1/4 to 1/3. Plus, both deals are not removing any interest from trust to fund their working capital AND both have the Crescent Term with a threshold of $9.20. These terms should work and pricing seems a lock. The Social Capital team already has a successful deal under their belt and they are a brand name, elite team. And frankly, investors have been sitting on the sidelines for over a month now, so many are eager to put money to work. Look for IPOC.U to price shortly thereafter.


At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...