SoftBank registered two SPACs with the SEC within minutes of each other after the market close Feb. 5.
SVF Investment Corp 2 is a $200 million and SVF Investment Corp 3 is a $350 million vehicle.
SoftBank expects to list SVF 2 on the Nasdaq under under SVFBU. The SPAC expects to offer 20 million units at $10 each to raise $200 million for the acquisition of a company engaged in the Internet of Things (IoT) and/or artificial intelligence (AI). Read more.
SVF 3 seeks to raise $350 million through an offer of 35 million units at $10 each. Like its sister SPAC, SVF 3 will target AI and IoT companies. The SPAC plans a Nasdaq listing under SVFCU. Read more.
The sponsor is an affiliate of both SoftBank and SoftBank Investment Advisers. Led by Chairman and CEO Masayoshi Son, SoftBank has transitioned from primarily being a Japanese telecoms operator into a global asset manager focused on achieving sustainable growth through opportunistic investments in the world’s leading technology companies.
