Bracket Capital and Jihan Bowes-Little are the most recent investors. SoFi’s SPAC deal gives the company an equity value of $8.65 billion and is expected to provide up to $2.4 billion in cash proceeds, including a fully committed private investment in public equity (PIPE) of $1.2 billion, and up to $805 million of cash held in the trust account of Social Capital Hedosophia V. By Newsroom ... marks the latest example of a growing trend in which closely held firms go public by merging with a SPAC. Overview SoFi is a fintech company comprised of 3 different business segments. The new one, SoFi, it's been agreed upon, so it's going public under a SPAC that you can buy on the market right now. SoFi basically offers loans like Student loans, Personal loans, Home loans, etc. Among its investors are SoftBank, Silver Lake and IVP. A SPAC goes public in order to raise capital. The merger values SoFi at an equity value of … SoFi is funded by 37 investors. SPAC vs. IPO: Valuation, Lockup Period, and Employee Equity. SoFi Stock: SPAC IPO. The financial services platform has earned a $8.65 billion post-money valuation after agreeing to a merger with Social Capital Hedosophia Holdings, a publicly traded special purpose acquisition company or SPAC that specializes in consumer-focused fintech businesses.. Now, what in the world is a SPAC? It marks the latest example of a growing trend in which closely held firms go public by merging with a SPAC. Alternative Lending. Share. The ticker symbol is IPOE, it's one of Chamath's SPACs. The merger with Palihapitiya's SPAC, Social Capital Hedosophia Corp V, will value SoFi at $8.65 billion. A SPAC (Special Purpose Acquisition Company) event is a process by which companies go public that has some similarities and key differences when compared to a regular IPO. ... Playtika eyes nearly $10 bln valuation in U.S. listing as gaming booms The venture-capital investor Chamath Palihapitiya heads the SPAC. This is my detailed overview of SoFi which is going public via the SPAC IPOE stock. SoFi is going public via a SPAC backed by billionaire ... SoFi last raised $500 million in 2019 at a valuation of $4.3 billion. SoFi to Go Public Through SPAC Merger at $8.6B Valuation - Get SoFi before the IPO - it's too late now - but there are others. Affirm, another SoFi competitor, debuted on … And with $805 million of cash held in trust since the Spac IPO, the deal values SoFi at $8.65 billion pro forma or $6.6 billion pre-money. SoFi to go public through SPAC merger at $8.6B valuation. Valuation: $4.8 billion (pre SPAC mid 2020) Industry: Banks, financial institutions. 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. The SoFi deal values the company at $8.65 billion — which according to Pitchbook was valued last May at $5.7 billion.. SoFi was founded in 2011 … In fact, 2020 was a record year for SPAC IPOs. The deal would give SoFi a post-money valuation in excess of $8.65 billion, with the goal of bringing FinTech businesses to public markets. SoFi to go public at $8.65bn valuation through SPAC merger. EXCLUSIVE-SoFi nears deal to go public with SPAC backed by venture investor Palihapitiya -sources. The process whereby the acquiring blank-cheque company starts to trade as the target can lead to a confusion of roles. Robinhood commands a higher valuation at about $12 billion. Most investment banks handle Spacs as a joint venture between ECM and M&A. First things first: congratulations to SoFi. Special purpose acquisition companies (SPAC) have become a popular alternative for companies looking to IPO. Financial services provider SoFi has held talks with several special-purpose acquisition companies in a bid to go public, according to Reuters. SoFi to IPO through a SPAC in 2021.SoFi is an online lending student loan refinancing pioneer. The deal values SoFi at $8.65 billion, it said. SoFi has raised a total of $2.9B in funding over 17 rounds. TRENDING. SoFi General Information Description. SoFi to Go Public Through SPAC Merger at $8.6B Valuation. 1. Noto tells CNBC that the choice to go public via a Spac is based on the “deal certainty” of such an arrangement. SoFi Takes SPAC Route for Public Listing with $8.65B Valuation January 8, 2021 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. With the ticker IPOE, Social Capital SPAC announced they reached a deal to SPAC the fintech company SoFi. 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. SoFi valuation and expected price target As we’ve all heard, IPOE is in the process of finalizing a merger with SoFi, a juicy fintech firm out of San Francisco, expected to occur sometime in Q1. Chamath Palihapitiya, CEO of Social Capital (NASDAQ:IPOE), has announced that SoFi will go public via a SPAC deal that is worth $8.65 billion via CNBC. SoFi Agrees to Go Public Via SPAC With Valuation of $8.7 Billion. The first one is the Lending business. The deal for SoFi, one of the most well-known fintechs, is expected to close in the first quarter and calls for the combined company to receive $2.4 billion of gross proceeds. Developer of a digital financial lending platform intended to offer various refinancing loans. It's expected some $2.4bn will be heading SoFi’s way as part of the deal with Chamath Palihapitiya's special purpose acquisition company. The IPOE SPAC deal valued SoFi at about $8.7 billion. Read next: Paysafe to list via Bill Foley-backed Spac at $9bn valuation SoFi explored a sale in 2017, the FT reported, looking for a $8bn-$10bn valuation. This is his fifth SPAC. https://trib.al/v5IXSRu See More By Oliver Smith on Friday 8 January 2021. SoFi to Go Public Through SPAC Merger at $8.6B Valuation. The SPAC Deal: SoFI announced a SPAC merger with Social Capital Hedosophia Holdings V (NYSE: IPOE), led by Chamath Palihapitiya. Brad Garlinghouse says his firm tried to settle with the SEC in a Th... ursday thread addressing the regulator's allegations Ripple violated securities law through XRP sales. The company's most recent funding round valued SoFi at $5.7 billion in private markets, so while the rumored SPAC merger would certainly be a step up in valuation… The round was led by by Qatar Investment Authority, a Doha-based private equity and sovereign wealth fund. Their latest funding was raised on Jan 7, 2021 from a Venture - Series Unknown round. 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 … The San Francisco-based business reached a valuation of $5.8 billion earlier this year, according to a PitchBook estimate. It then has about two years to use those funds to acquire a company. SoFi last raised capital in 2019 of half a billion.