SoFi to go public at $8.65bn valuation through SPAC merger. Later that month, it emerged that SoftBank plans to raise up to $525 million with the IPO of its own Spac, according to a regulatory filing. Rights to redeem shares expire Dec. 17, the SPAC said in a press release. EXCLUSIVE-SoFi to go public through merger with Palihapitiya-backed SPAC. He's a venture capitalist and billionaire. SoFi to Go Public Through SPAC Merger at $8.6B Valuation - CoinDesk. Yes! Previously, CEO Anthony Noto was a COO at Twitter and a partner at Goldman Sachs. SoFi, the operator of one of the most popular consuming banking apps, today announced plans to hit the stock market via a SPAC merger at an $8.65 billion valuation.A SPAC merger is a … Shahien Nasiripour. 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 IPOE.N, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. New spac merger news. Author of the article: Reuters. Online lender SoFi to go public through merger with Palihapitiya-backed SPAC Back to video Reuters had reported earlier on Thursday that SoFi and Social Capital were nearing a deal to merge. SoFi is expected to go public through the SPAC route in the first quarter of 2021, according to a press release from SoFi. Does It Pay to Buy IPO Stock on the First Trading Day? The deal has already been unanimously approved by the SPAC's and SoFi's board of directors. "The new investments and our partnership with Social Capital Hedosophia signify the confidence in our strategy, the momentum in our business, as well as the significant growth opportunity ahead of us," SoFi Chief Executive Anthony Noto said in a statement. TechCrunch explained that the deal includes $2.4 billion in cash. SoFi says it will go public via a merger with a SPAC backed by Chamath Palihapitiya at a valuation of $8.65B — - Fintech start-up SoFi says it will merge with a special purpose acquisition company, or SPAC, backed by venture capital investor Chamath Palihapitiya. SoFi nears deal to go public with SPAC backed by venture capital investor Palihapitiya -sources. He raised $600 million for his first SPAC, Social Capital Hedosophia Holdings, in 2017. After the company is officially public through the new SPAC IPO deal, investors can purchase shares of the stock through their usual platform or brokerage. Rumors of an IPO through a SPAC started about a month ago. "We look forward to partnering with Anthony and his team as they help even more members to achieve financial independence," Palihapitiya said. 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Fintech company SoFi, or Social Finance, is set to go public sometime in 2021 with the investment of a SPAC (special purpose acquisition company). The Motley Fool reported that the SPAC raised about $800 million in an IPO in 2020 and had been searching for a company to acquire. (Reporting by Joshua Franklin in Miami, Anirban Sen in Bangalore and Krystal Hu in New York; Editing by Steve Orlofsky and Matthew Lewis), ((; +1 646-223-6356; Reuters Messaging: 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 … Financial services platform SoFi Inc. is planning to come public via a merger with a special-purpose acquisition company, or SPAC. His second merged with Opendoor in 2020. The San Francisco-based business reached a valuation of $5.8 billion earlier this year, according to a PitchBook estimate. Update January 7, 2020: Includes official deal details from SoFi. Alternative Lending. Recently, it started offering both active and automated investing through its program SoFi Invest. (Reuters) -U.S. 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. A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held company that then becomes publicly traded as a result. All Hands On Data - A Tableau Series ... SoFi’s SPAC-Enabled Public Offering. Reuters reported in December that SoFi had held discussions with SPACs about a merger. This is Chamath Palihapitiya newest SPAC merger. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons ='submit-button'); for(var i=0;i