will merge with OpenDoor, Chamath Palihapitiya quietly filed for three new special purpose acquisition company IPOs Friday after the market close. ” data-reactid=”19″>Fresh off the announcement that Social Capital Hedosophia Holdings Corp II (NYSE: IPOB) will merge with OpenDoor, Chamath Palihapitiya quietly filed for three new special purpose acquisition company IPOs Friday after the market close.
plan to launch SPACs with symbols from "IPOA" to "IPOZ."” data-reactid=”20″>The Offerings: The three SPACs follow Palihapitiya’s plan to launch SPACs with symbols from “IPOA” to “IPOZ.”
plans to sell 35 million shares at $10 each for proceeds of $350 million.” data-reactid=”21″>Social Capital Hedosophia Holdings Corp IV (NYSE: IPOD) plans to sell 35 million shares at $10 each for proceeds of $350 million.
plans to sell 65 million shares at $10 each for proceeds of $650 million.” data-reactid=”22″>Social Capital Hedosophia Holdings Corp V (NYSE: IPOE) plans to sell 65 million shares at $10 each for proceeds of $650 million.
All three SPACs come with one-fourth of a warrant to buy a share at $11.50.
Credit Suisse is the underwriter on all three SPACs.
From 2010 to 2014, there were an average of 45 technology company IPOs yearly in the U.S. That figure has fallen to an average of 35 from 2015 to 2019.
The SPACs have a wide range of technology companies from which to choose.
IPOC) raised $720 million and shares are trading at $12.56, with no acquisition target yet announced.
SPCE), where Palihapitiya is the chairman.
TRNE) SPAC that is taking Desktop Metal public. Palihapitiya was also a financer for Fortress Value Acquisition Corp (NYSE: FVAC), which is merging with MP Materials, a rare earth metal company trying to solve climate change.
FB) and was part of the social media company’s original management team.
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