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.
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...