Adit Ventures Proud SoFi Investor Excited for SoFi’s Plan to Become Publicly-traded via Merger with Social Capital Hedosophia
SoFi, A Leading Next-Generation Financial Services Platform, Announces Plans to Become Publicly-traded via Merger with Social Capital Hedosophia.
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SoFi has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V, a publicly traded special purpose acquisition company, to bring a major consumer-focused financial technology business to the public markets. The transaction values the Company at an equity value of $8.65 billion post-money.
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The PIPE is being led by Chamath Palihapitiya, Founder and CEO of SCH, and Hedosophia, who are together contributing $275 million; top-tier institutional investors comprise the remaining $950 million of the PIPE include funds and accounts managed by Altimeter Capital Management, Baron Capital Group, BlackRock, Coatue Management, Durable Capital Partners LP, and Healthcare of Ontario Pension Plan (HOOPP).
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