Social Capital Hedosophia Holdings Corp. II (IPOB.U), announced the pricing of their upsized $360 million SPAC IPO this evening and the units are expected to begin trading tomorrow, Tuesday, April 28th, under the symbol NYSE: IPOB.U.
Social Capital Hedosophia II’s pricing follows last week’s IPO of Social Capital Hedosophia III (IPOC.U), which went public on Tuesday, April 24th. Both IPOB.U and IPOC.U are the follow-up SPACs to the original Social Capital Hedosophia Holdings Corp, which combined with Virgin Galactic (SPCE), in October 2019.
Social Capital Hedosophia II (IPOB.U), will be focusing on technology companies located inside the U.S. and will once again be led by the team of Chamath Palihapitiya, as CEO and Chairman, and Ian Osborne, as President and Director.
Total SPAC deal count for 2020 year-to-date is now 17 with $5.558 billion in gross proceeds raised. The offering is anticipated to close on Thursday, April 30, 2020.
Credit Suisse is acting as sole book-running manager of the offering. Skadden, Arps, Slate, Meagher & Flom LLP and Shearman & Sterling LLP were Issuer’s Counsel and Underwriter’s Counsel, respectively. Marcum LLP acted as auditor.