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Social Capital Hedosophia Files TWO New SPACs


Social Capital Hedosophia Files TWO New SPACs

Feb 28, 2020 INTEL by Kristi Marvin

Chamath Palihapitiya says, ‘Rona what?

In an otherwise gloomy day of non-stop Coronavirus news and market oscillation, we did have the Friday gift of not one, but TWO new IPO filings from Social Capital Hedosophia.  If you haven’t seen it yet, Social Capital Hedosophia II & III just filed to IPO, with a $300 million and $600 million offering each. Both are 1/4 warrant structures (naturally), and are being underwritten once again by Credit Suisse.

Basically, Chamath just pulled a Triple Lindy and all without wearing a face mask.  Social Capital II will be $300 million, while Social Capital III will be $600 million in size, so clearly they will be looking at different target universes.  This is a bright spot in an otherwise muted week and sure to get some press coverage.  I’ll be reviewing each of the prospectuses and will provide additional commentary next week.

For now, this is the extra lime in your Friday Happy Hour cocktail. Stay tuned…