Shareholders in Social Capital Hedosophia Holdings V vote today on the proposed merger with Social Finance Technologies. If approved, shares start trading June 1 on the Nasdaq.
Shares in SPAC guru Chamath Palihapitiya’s 5th blank-check company have surged this week leading up to today’s vote on the transaction, which values the combined company at an equity value of $8.65 billion post-money.
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.
