SoftBank’s newly formed SPAC, SVF Investment, filed to offer 52.5 million shares at $10 each, and possibly up to 60.375 million shares.
The SPAC is focused on companies involved in artificial intelligence and IoT, the “Internet of Things.”
SVF is led by Chairman and CEO Rajeev Misra, who is also CEO of SoftBank Investment Advisers, the investment manager to the SoftBank Vision Funds, and executive vice president of SoftBank Group.
SoftBank, through a subsidiary, committed to a concurrent private placement of at least 8.3 million shares.
The new SPAC plans to list on the Nasdaq under the symbol. SVFAU. Read more.
