Social Capital Hedosophia Holdings Corp V, a blank check company led by Social Capital CEO Chamath Palihapitiya, has debuted its IPO after pricing its 70 million shares at $10 per share. The stock began trading October 9, 2020 on the New York Stock Exchange under the ticker symbol “IPOE.U.” Credit Suisse is serving as underwriter.
PALO ALTO, Calif., Oct. 8, 2020 /PRNewswire/ — Social Capital Hedosophia Holdings Corp. V (the “Company”) announced today that it priced its initial public offering of 70,000,000 units at $10.00 per unit. The units will be listed on the New York Stock Exchange (the “NYSE”) and trade under the ticker symbol “IPOE.U” beginning October 9, 2020. Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the NYSE under the symbols “IPOE” and “IPOE WS,” respectively.
The Company is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on businesses in the technology industries.
Credit Suisse is acting as sole book-running manager. The Company has granted the underwriter a 45-day option to purchase up to an additional 10,500,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, Telephone: 1-800-221-1037, Email: firstname.lastname@example.org.
Registration statements relating to the securities became effective on October 8, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.