SoftBank’s newly formed SPAC, SVF Investment, priced its IPO of 52.5 million shares at $10 each to raise $525 million.
The SPAC is focused on companies involved in artificial intelligence and IoT, the “Internet of Things.”
London-based 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.
Units begin trading today on the Nasdaq under SVFAU. Read more.
