Social Capital Hedosophia Holdings V today announced the pending transfer of the listing of its Class A ordinary shares and redeemable warrants from the NYSE to the Nasdaq in connection with its pending business combination with Social Finance. Trtading is expected to begin June 1.
The transaction values the company at an equity value of $8.65 billion post-money.
Pending approval by the SPAC’s shareholders in a vote set for May 27, the deal is expected to deliver up to $2.4 billion of gross proceeds to the combined company, including up to $805 million of cash held in the SPAC’s trust from its IPO in October. The combination is further supported by a $1.2 billion PIPE at $10 per share. Read more.
