Social Capital Hedosophia Holdings Corp. V

SoFi

Social Capital Hedosophia Holdings Corp. V operates as a blank check company, which engages in seeking a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was founded on July 10, 2020 and is headquartered in Palo Alto, CA. Redemption Price: 10. Warrant Coverage: 1/4.

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SoFi Technologies, Inc. is a financial service platform, which engages in the provision of student loan refinancing options to the private student loan market. It offers home loans, personal loans, and credit cards. It operates through the following segments: Lending, Technology Platform, and Financial Services. The Lending segment includes personal loan, student loan, home loan products, and related servicing activities. The Technology Platform segment focuses on technology products and solutions revenue. The Financial Services segment includes the SoFi Money product, SoFi Invest product, SoFi Credit Card product, SoFi Relay personal finance management product, and other financial services such as lead generation and content for other financial services institutions. The company was founded in 2011 and is headquartered in San Francisco, CA.

The Special Purpose Acquisition Company (SPAC) begins trading publicly. During this phase, the SPAC looks for a target company to merge with.

SEARCHING PHASE

The SPAC announces which company it will be acquiring (and taking public).

PREVIOUS PHASE

Investors and shareholders will meet to approve the acquisition.

CURRENT PHASE

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SoFi aims to do all kinds of banking, brokerage and insurance business through a mobile app. It is led by Anthony Noto, a former Goldman Sachs banker and Twitter CFO.

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After beginning as a student-loan platform, Social Finance Inc., better known as SoFi, is aiming to be a hub for all things personal finance as it heads for the public markets.

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Taking a position in a shell company might not sound exciting at first, but there's heavy interest surrounding fintech-focused IPOE stock. The post Own a Piece of a Fintech-Focused SPAC with Social Capital Hedosophia Holdings V appeared first on InvestorPlace.

Own a Piece of a Fintech-Focused SPAC with Social Capital Hedosophia Holdings V

SoFi will likely be able to operate with a banking charter later this year. While it's not a traditional bank, it will have a lot of attractive banking characteristics.

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SoFi is buying a bank. The acquisition of Golden Pacific Bancorp will speed up SoFi's application for a national bank charter.

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The US-based alt lender is acquiring Golden Pacific Bancorp Inc., a California community lender, for $22 million to become a nationally chartered bank, The Wall Street Journal  reports . Upon receiving regulatory approval for the Golden Pacific purchase, SoFi will contribute an additional $750 million into the bank to further drive Golden Pacific's national and digital expansion. The pending transaction follows SoFi's January 2021  announcement  that it will go public later in Q1—through which it expects to raise up to $2.4 billion in cash proceeds. The alt lender is wasting no time bolstering its current banking offering in the interim,  launching  its first ever credit card yesterday as well.

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Fintech company SoFi announced an acquisition on Tuesday that could help its growth road map for the future.  What Happened: SoFi, which is merging with Social Capital Hedosophia Holdings VCorp (NYSE: IPOE), announced Tuesday it is acquiring Golden Pacific Bancorp (OTC: GPBI).

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"When we have a bank charter, we'll be able to determine what interest rate that we want to provide," SoFi CEO Anthony Noto told CNBC.

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SoFi, more formally known as Social Finance, announced today that it has agreed to acquire Golden Pacific Bancorp (GPB) for about $22.3 million. The dollar amount is not staggering.

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FinTech startup Social Finance (SoFi) is acquiring Golden Pacific Bancorp (GPB), a community bank in Sacramento, California, for $22.3 million. “We believe that by pursuing a national bank charter, we will be able to help even more people get their money right with enhanced value and more products and services,” Anthony Noto, CEO of SoFi, […]

SoFi Signs $22.3 Million Acquisition Deal For Golden Pacific Bank

Social Finance Inc. plans to acquire a small community bank as it seeks to "accelerate" its own process of obtaining a bank charter.

SoFi plans to acquire community bank to speed up bank-charter process

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Social Capital Hedosophia Holdings V took 91 days to announce it was merging with SoFi. Does a quick courting period bode well for IPOE stock?

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NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of  Clover Health Investments, Corp. f/k/a Social Capital Hedosophia Holdings Corp. III (NASDAQ: CLOV, CLOVW) (NYSE: IPOE) who: (1) purchased or otherwise acquired publicly traded Clover securities between October 6, 2020 and February 4, 2021, inclusive (the “Class Period”); and/or (2) purchased or otherwise acquired Clover securities pursuant or traceable to the registration statement and prospectus issued in connection with the December 2020 Merger of Clover and Social Capital III.

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SoFi recently signed a definitive agreement to go public with Chamath Palihapitiya's SPAC. The deal values the company at $8.65 billion.

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News for Social Capital Hedosophia Holdings Corp. V Stock (IPOE)