Social Capital Hedosophia III Files Prelim Proxy on Clover Health Deal

CloverHealth

Social Capital Hedosophia III today filed an amended proxy on its proposed business combination. The SPAC expects to hold a shareholder vote on the deal by year’s end. Clover Health Investments operates next-generation Medicare Advantage plans.

If approved, Clover is expected to receive up to $728 million of transaction proceeds, and up to $500 million of cash proceeds would be allocated to existing Clover shareholders. Read more.

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