Business & FinanceDeals

Reuters reveals SoFi near deal to go public with SPAC backed by venture capital investor Palihapitiya; market reacts

Reuters broke the news on Thursday that 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. The report was later confirmed by an official statement from the company.

Market Impact

Shares of Social Capital Hedosophia Holdings Corp V jumped as much as 47.9% following the Reuters report and later pared gains to trade up around 26% at $15.30 apiece at 11:01 a.m. eastern time.

Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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