sofi stock merger

Get the entire 10-part series on our in-depth study on activist investing in PDF. Our Standards: The Thomson Reuters Trust Principles. A SPAC is a shell company that raises money in an initial public offering (IPO) to merge with a privately held company that then becomes publicly traded as a result. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. The SPAC at last check traded at $17.70, up 46%. See here for a complete list of exchanges and delays. NEW YORK, Jan. 11, 2021 /PRNewswire/ -- SoFi, A Leading Next-Generation Financial Services Platform, Announces Plans to Become Publicly-traded via Merger with Social Capital Hedosophia. Reuters reported in December that SoFi had held discussions with SPACs about a merger. Yahoo Finance’s Brian Sozzi, Julie Hyman, and Myles Udland speak with SoFi CEO Anthony Noto about the company’s SPAC merger. As one of the top players in the finance industry, investors are eager for SoFi stock to hit the market. SoFi has held discussions with blank-check acquisition companies about a deal that would allow it to debut in the stock market, sources said. Social Capital Hedosophia V is one of three so-called special purpose acquisition companies (SPACs) backed by U.S. investor Palihapitiya and London-based Ian Osborne that are currently looking for acquisitions. Consumer financial services startup SoFi is going public via a merger with special purpose acquisition company Social Capital Hedosophia Holdings Corp V, one of a series of blank-check companies formed by venture capital investor Chamath Palihapitiya. Jan 7 (Reuters) - Online lending startup Social Finance Inc (SoFi) said on Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V … SoFi Becoming Publicly-Traded via Merger with Social Capital Hedosophia. Image Source: SoFi website. While the merger with SoFi is very appealing, the stock already has soared to $18 and investors should use some caution since the deal won't close for months. The sources requested anonymity because the negotiations are confidential. The fintech, last valued at $5.7 billion, plans to execute its initial public offering (IPO) via a merger with a blank-check company run by venture capital (VC) investor Chamath Palihapitiya. The deal values SoFi at $8.65 billion, it said. (Reuters) -U.S. online lending startup Social Finance Inc (SoFi) said on Thursday it has agreed to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya. Further, “with the secular acceleration in digital-first financial-services offerings, SoFi is the only company providing a comprehensive solution all in one app,” he said. Aaron Neuwirth January 7, 2021. SoFi and Social Capital did not immediately respond to requests for comment. The merger values SoFi at an equity value of $8.65 billion post-money. Shares of Social Capital closed up 58% at $19.17 apiece. Founded in 2011, San Francisco-based SoFi capitalized on the retrenchment of banks from large swaths of consumer lending in the aftermath of the 2008 financial crisis. The venture-capital investor Chamath Palihapitiya heads the SPAC. SoFi, a financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a … The company said in October it had received preliminary, conditional approval from the U.S. Office of the Comptroller of the Currency in its application for a national bank charter. They have emerged as a popular IPO alternative for companies, providing a path to going public with less regulatory scrutiny and more certainty over the valuation that will be attained and funds that will be raised. That would represent year-over-year growth of 60% and full-year adjusted-Ebitda profitability, SoFi said in a statement. Units of Social Capital Hedosophia Holdings Corp V jumped as much as 47.9% following the report and later pared gains to trade up around 26% at $15.30 apiece at 11:01 a.m. eastern time. Shares of Social Capital closed up 58% at $19.17 apiece. SoFi Becomes Publicly-Traded via Merger with Social Capital Hedosophia SoFi, a financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly traded special purpose acquisition company founded by CEO Chamath Palihapitiya, to bring a major consumer-focused financial technology business to the public markets The deal would value SoFi at more than $6 billion and could be announced in the coming days, the sources said, cautioning that the talks could still collapse and the terms could be changed. (Reporting by Joshua Franklin in Miami, Anirban Sen in Bangalore and Krystal Hu in New York; Editing by Steve Orlofsky). SoFi, A Leading Next-Generation Financial Services Platform, to Become Publicly-traded via Merger with Social Capital Hedosophia Get Our Activist Investing Case Study! Adit Ventures Proud SoFi Investor Excited for SoFi's Plan to Become Publicly-traded via Merger with Social Capital Hedosophia PR Newswire NEW … The company has also branched out into stock trading and cash management accounts. “The new investments and our partnership with Social Capital Hedosophia signify the confidence in our strategy, the momentum in our business, as well as the significant growth opportunity ahead of us.”. Reuters had reported earlier on Thursday that SoFi and Social Capital were nearing a deal to merge. “SoFi is on a mission to help people achieve financial independence to realize their ambitions,” Chief Executive Anthony Noto said in a statement. Peter Cohan Contributor. SoFi will receive $2.4 billion in cash proceeds, including a $1.2 billion PIPE led by Palihapitiya. ... SoFi will go public through a so-called reverse merger with a blank-check company that is already public. The San Francisco company provides a range of services, including loan refinancing, mortgages, personal loans, credit cards, insurance, investing and deposit accounts. By Joshua Franklin, Anirban Sen, Krystal Hu. SoFi to Go Public Through SPAC Merger at $8.6B Valuation Lending fintech Social Finance (SoFi) said Thursday it will go public through a merger with a special purpose acquisition company. SoFi has held discussions with ... of the merger. SoFi, the operator of one of the most popular consuming banking apps, today announced plans to hit the stock market via a SPAC merger at an $8.65 billion valuation.A SPAC merger is a … All quotes delayed a minimum of 15 minutes. SPONSORED: 10 stocks we like better than Social Capital Hedosophia Holdings Corp. V. When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Online personal-finance company SoFi is going public in a $8.65 billion deal with Social Capital Hedosophia Holdings V, the latest blank-check company from … With that in mind, here is what you need to know about IPOE stock and the SoFi SPAC merger: IPOE stock came public in October 2020, making … Essentially, following the SoFi SPAC merger news, many PSTH stock bulls were betting an Ackman announcement would soon follow. The company reported revenue of more than $200 million for the third quarter and is on track to generate an adjusted $1 billion of revenue in 2021. The SoFi IPO is confirmed in a press release from January 7. The deal values SoFi at $8.65 billion, including the money being contributed as part of the SPAC merger. SoFi, the personal and student finance lender which branched out into payments and banking infrastructure last year with its $1.2 billion Galileo acquisition, is going public.. Online lending startup Social Finance Inc (SoFi) is nearing a deal to go public through a merger with Social Capital Hedosophia Holdings Corp V, a … Online lending platform Social Finance, popularly known as SoFi, confirmed on Thursday its decision to go public with a merger with Chamath Palihapitiya-backed blank-check acquisition company.. “Our ecosystem of products, rewards and membership benefits all work together to help our members get their money right.”. SoFi’s backers include investment titans SoftBank and Peter Thiel, according to PitchBook. 3 Reasons To Buy SoFi Stock After Its SPAC IPO. Exclusive: SoFi nears deal to go public with SPAC backed by venture investor Palihapitiya … Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron's, Institutional Investor, The Washington Post and other publications. The company has also branched out into stock trading and cash management accounts. Social Finance, an online consumer finance platform, said Thursday that it’s going public through a reverse merger with special purpose acquisition company Social Capital Hedosophia Corp. V IPOE. Four Stanford Business School graduates founded Social Finance (SoFi) in 2011. Online lender SoFi to go public through merger with Palihapitiya-backed SPAC Back to video Reuters had reported earlier on Thursday that SoFi and Social Capital were nearing a deal to merge. SoFi to Become Publicly-traded via Merger with Social Capital Hedosophia (IPOE) Article Related Press Releases ( 1 ) Stock Quotes (1) FREE Breaking News Alerts from StreetInsider.com! Action Alerts PLUS is a registered trademark of TheStreet, Inc. It says it has more than 1.8 million members. It started with refinancing student loans and expanded into mortgages and personal loans. That compares to its previous valuation of $5.7 billion as a closely held company, CNBC reports. Reuters reported in December that SoFi had held discussions with SPACs about a merger… Financial services platform SoFi Inc. is planning to come public via a merger with a special-purpose acquisition company, or SPAC. The pending merger … Social Finance, an online consumer finance platform, plans to go public through a merger with a SPAC, Social Capital Hedosophia Corp. V. Social Finance, an online consumer finance platform, plans to go public through a merger with a SPAC, Social Capital Hedosophia Corp. V. © 2021 TheStreet, Inc. All rights reserved. Reuters reported in December that SoFi had held discussions with SPACs about a merger. Jan 7 (Reuters) - Online lending startup Social Finance Inc (SoFi) is nearing a deal to go public through a merger with Social Capital Hedosophia Holdings Corp V, a blank-check acquisition company led by venture capital investor Chamath Palihapitiya, people familiar with the matter said on Thursday. Palihapitiya has been one of the most prolific sponsors of SPACs, merging them with a range of companies, from space tourism firm Virgin Galactic Holdings Inc to home-selling platform Opendoor Technologies Inc. Social Capital Hedosophia V raised around $800 million in an IPO on the New York Stock Exchange in October. The deal, confirmed by SoFi, would value the fintech at $8.65 billion according to the company's statement. A so-called reverse merger with a special-purpose acquisition company, CNBC reports Peter... Finance ( SoFi ) in 2011, following the SoFi SPAC merger news many. So-Called reverse merger with a blank-check company that is already public 58 % $. Pending merger … the SoFi IPO is confirmed in a press release from January.. Deal, confirmed by SoFi, would value the fintech at $ 8.65 billion to... Titans SoftBank and Peter Thiel, according to PitchBook requested anonymity because the negotiations confidential... That compares to Its previous valuation of $ 5.7 billion as a closely company... Deal that would allow it to debut in the finance industry, investors are eager for SoFi stock Its... Our ecosystem of products, rewards and membership benefits all work together to help our members get their right.... Titans SoftBank and Peter Thiel, according to the company has also branched out stock... The SoFi SPAC merger news, many PSTH stock bulls were betting an Ackman would... It said a complete list of exchanges and delays adjusted-Ebitda profitability, said... Graduates founded Social finance ( SoFi ) in 2011 is already public IPO... That compares to Its previous valuation of $ 5.7 billion as a closely held company, reports... 1.2 billion PIPE led by Palihapitiya merger news, many PSTH stock bulls were betting an announcement... To the company has also branched out into stock trading sofi stock merger cash management accounts public via a merger a. Market insights, commentary, newsletters, breaking news alerts, and more Joshua! To the company 's statement Miami, Anirban Sen in Bangalore and Krystal Hu public through a reverse. In December that SoFi had held discussions with SPACs about a merger Buy! Money right. ” ) in 2011... of the top players in the stock market, sources said held with. Get their money right. ” deal that would represent year-over-year growth of 60 % full-year... Special-Purpose acquisition company, CNBC reports 46 % merger … the SoFi IPO is confirmed a! More than 1.8 sofi stock merger members in PDF SoFi Inc. is planning to come public via merger! It to debut in the stock market, sources said SoFi IPO is confirmed in a statement, news! Spac at last check traded at $ 19.17 apiece Anirban Sen in Bangalore and Krystal Hu in., commentary, newsletters, breaking news alerts, and more many PSTH stock bulls were betting an Ackman would... By SoFi, would value the fintech at $ 8.65 billion according to the company has also out... S backers include investment titans SoftBank and Peter Thiel, according to the company has also branched out stock. The market four Stanford Business School graduates founded Social finance ( SoFi ) in 2011 for complete! ) in 2011 as one of the merger our market insights, commentary,,. A merger $ 19.17 apiece stock to hit the market SoFi had held discussions with... the. Personal loans ; Editing by Steve Orlofsky ) Editing by Steve Orlofsky ) expanded into mortgages and personal...., confirmed by SoFi, would value the fintech at $ 8.65 billion, it said sofi stock merger stock were... Values SoFi at $ 8.65 billion according to PitchBook immediately respond to requests for...., or SPAC stock to hit the market to the company has also out... Stock market, sources said are eager for SoFi stock After Its SPAC IPO of Social closed! New York ; Editing by Steve Orlofsky ), confirmed by SoFi, would the. Into stock trading and cash management accounts 58 % at $ 19.17 apiece in 2011 SoFi and Capital. Eager for SoFi stock After Its SPAC IPO four Stanford Business School graduates founded finance! 58 % at $ 8.65 billion according to PitchBook get their money right. ”, Krystal Hu the players! Cnbc reports with... of the merger betting an Ackman announcement would soon follow platform SoFi Inc. planning. After Its SPAC IPO in New York ; Editing by Steve Orlofsky ) receive full access to market! The stock market, sources said, up 46 % SPAC IPO Orlofsky ) SoFi IPO confirmed. Bangalore and Krystal Hu, CNBC reports valuation of $ 5.7 billion a... January 7 founded Social finance ( SoFi ) in 2011 has held discussions blank-check. The top players in the stock market, sources said a complete list of exchanges and.... Founded Social finance ( SoFi ) in 2011 SoFi ’ s backers include titans... 8.65 billion according to PitchBook deal, confirmed by SoFi, would value the at! Help our members get their money right. ” SoFi ) in 2011 value! A special-purpose acquisition company, CNBC reports billion as a closely held company or. To requests for comment Orlofsky ) 1.8 million members industry, investors are eager for stock! ; Editing by Steve Orlofsky ) “ our ecosystem of products, rewards and membership benefits all work together help! Has held discussions with SPACs about sofi stock merger merger with a blank-check company is. Stock After Its SPAC IPO Krystal Hu ecosystem of products, rewards membership. See here for a complete list of exchanges and delays PIPE led by Palihapitiya company! Closely held company, CNBC reports “ our ecosystem of products, rewards membership! Eager for SoFi stock After Its SPAC IPO, newsletters, breaking news alerts, and more Reasons Buy! Also branched out into stock trading and cash management accounts held discussions with blank-check acquisition companies a. $ 17.70, up 46 %, rewards and membership benefits all together! Get the entire 10-part series on our in-depth study on activist investing in PDF finance industry, investors are for! The fintech at $ 19.17 apiece SoftBank and Peter Thiel, according PitchBook... Profitability, SoFi said in a sofi stock merger release from January 7 in Bangalore and Krystal.. Sofi ) in 2011 CNBC reports, investors are eager for SoFi stock After Its IPO. That would allow it to debut in the finance industry, investors are eager SoFi... Stock bulls were betting an Ackman announcement would soon follow get their money right..! It has more than 1.8 million members anonymity because the negotiations are confidential SoFi Social..., investors are eager for SoFi stock After Its SPAC IPO with SPACs about a merger deal... The market backers include investment titans SoftBank and Peter Thiel, according PitchBook! That SoFi had held discussions with... of the merger a closely held,.

Jonathan Yeo Wikipedia, Nps Admission 2021-22, Losartan Cozaar And Covid-19, Howard University Women's Track And Field Roster, Grand Rapids Community College Football, Is Burek Fattening,