The company was founded in 2020 and is based in Palo Alto, California. Obviously, investors believe it can. For financial reporting, their fiscal year ends on … Social Capital Hedosophia Holdings Corp. VI operates as a blank check company. That’s it. That deal closed in 2019, before the SPAC boom began. It’s simply an alternative to the IPO process. 1125 N. Charles St, Baltimore, MD 21201. quotes delayed at least 15 minutes, all others at least 20 minutes. Opendoor Technologies (NASDAQ:OPEN) followed. Social Capital Hedosophia Holdings Corp. VI (NYSE:IPOF) went up by 4.54% from its latest closing price compared to the recent 1-year high of $16.54. Profile Summary. Social Capital Hedosophia Holdings Corp VI Is a $1 Billion SPAC to Consider Thus far I've learned not to bet against Chamath Palihapitiya. And it’s worth looking at the steadily declining share prices of the SCH SPACs that have merged: $55, then $35, then $23, then $12. It sold 115 million units, each of which included one-fourth of a warrant to buy IPOF stock at $11.50. The same dynamic in fact holds across the SPAC category at the moment. Oct 8 (Reuters) - Social Capital Hedosophia Holdings Corp VI … On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article. Other stocks mentioned: IPOD.UN, IPOE.UN, IPOF.UN. First, it’s a pot of money raised during the SPAC’s initial public offering. Here are the key things to look for when evaluating a premerger blank-check company. Is paying a 50% premium for IPOF stock worth it? Those returns are why traders have bid up IPOF stock as well as Social Capital Hedosophia IV (NYSE:IPOD). And SPAC shareholders who have ridden with Palihapitiya so far have done well. The better the sponsor does on both fronts, the better the SPAC shareholders do. Print. Social Capital Hedosophia VI (NYSE:IPOF) stock is the latest SPAC (special purpose acquisition company) from investor Chamath Palihapitiya. Social Capital Hedosophia Holdings Corp. VI is primarely in the business of blank checks. Second, it has optionality should the SPAC find a merger target of which the market approves. Here's why Palihapitiya remains bullish about the SPACs his company is launching. Social Capital Hedosophia V (NYSE: IPOE) is merging with Social Finance, and has run to $23 as a result. And though SPCE actually dipped into the single digits not long after that merger closed, at a current price of $55 shareholders have done very well indeed. That doesn’t mean SCH VI merges with a company worth $1.08 billion, or that the actual valuation is $1.08 billion above what the merger target accepts. Social Capital Hedosophia Holdings unites technologists, entrepreneurs and technology-oriented investors around a shared vision of identifying and … Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. So, yes, IPOF stock looks like a wise trade given recent history. The potential gains in IPOF stock could prove once and for all that it's OK to invest in a shell company with no identified merger target. Should you buy IPOF stock? The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Social Capital Hedosophia Holdings VI 52-week high stock price is 16.54, which is 5.7% above the current share price. And it’s a trade that makes some sense. Social Capital Hedosophia Holdings Corp VI is the sixth of 26 SPACs its sponsor plans to bring to market. Copyright © Add that up, and there are 170.5 million shares outstanding including warrants. In depth view into IPOF (Social Capital Hedosophia Holdings Corp VI) stock including the latest price, news, dividend history, earnings information and financials. It’s the sponsor that does the due diligence on the target, and sets the terms of the merger. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. That’s the trade that underpins IPOF stock. Copyright © 2021 InvestorPlace Media, LLC. There’s no business to a SPAC. (Clover said the investigation was not material.). Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. Between: (1) Social Capital Hedosophia Holdings Corp. VI, an exempted company incorporated under the laws of the Cayman Islands with registered office at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands (the “Company”); and (2) Richard Costolo (“Indemnitee”) 2020-10-14: EX-10.9 This week, Joe Biden will be inaugurated as the 46th president of the United States. Social Capital Hedosophia Holdings Corp. VI (NYSE:IPOF) went up by 1.43% from its latest closing price compared to the recent 1-year high of $16.54. Social Capital Hedosophia Holdings Corp. VI is a newly incorporated blank check company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. What Happened: Social Capital Hedosophia Holdings Corp. IV (NYSE: IPO... PALO ALTO, Calif., Oct. 8, 2020 /PRNewswire/ -- Social Capital Hedosophia Holdings Corp. VI (the "Company") announced today that it priced its initial public offering of 100,000,000 units at $... Social Capital Hedosophia Holdings Corp. VI is a newly incorporated blank check company, incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. A SPAC (special purpose acquisition company) play like Social Capital Hedosophia VI (NYSE:IPOF) stock has two aspects. Just keep an eye on the potential troubles over at his Clover Health. Social Capital Hedosophia Holdings Corp VI Announces Pricing Of $1,000,000,000 Initial Public Offering At $10 Per Unit. IPOF: Get the latest Social Capital Hedosophia stock price and detailed information including IPOF news, historical charts and realtime prices. TRADING QUOTES MANAGEMENT & BOARD Executive Officers Chamath Palihapitiya, 43 Chief Executive Officer & Chairman Mr. Palihapitiya founded Social Capital in 2011 and has been its Managing Partner since its inception. But there is an equal case for caution, particularly for investors. Now that SPAC merger news has IPOD and IPOF stock soaring. Could they be involved in the next high-profile merger? But for one simple reason, investors should at least consider buying IPOF stock anyway. The post Social Capital Hedosophia VI is Priced for a Trade, Not an Investm... Chamath Palihapitiya has a strong track record, and with Stripe rumors in the mix, IPOF stock looks like a gamble worth considering. As I said, Social Capital Hedosophia’s raised $3.7 billion so far. It’s at $35. Chamath Palihapitiya’s blank-check companies raised a total of $2.1 billion in three initial public offerings on Thursday. Simply to support the current IPOF stock price, it needs to return equity that is worth $2.56 billion — 73% more than the cash the target is receiving. Social Capital Hedosophia Holdings Corp. VI (US:IPOF) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. General Information: Business: This is the sixth blank check company organized by Social Capital Hedosophia Holdings, a partnership between Chamath Palihapitiya, the founder and managing partner of Social Capital, and Ian Osborne, a co-founder and the CEO of Hedosophia. Get Social Capital Hedosophia Holdings Corp VI (IPOF:NYSE) real-time stock quotes, news, price and financial information from CNBC. Social Capital Hedosophia VI is Priced for a Trade, Not an Investment, a U.S. Department of Justice (DOJ) investigation, Louis Navellier and the InvestorPlace Research Staff, MoneyLine Podcast: We’re Entering a Period of Unprecedented Opportunity. No doubt, Palihapitiya is a key reason why. The Company intends to focus on businesses operating in the technology industries. Social Capital Hedosophia Holdings Corp. VI announced the pricing of its $1 billion IPO this evening and its units are expected to begin trading on the NYSE under the symbol “IPOF.U” tomorrow, Friday, October 9.. (Those warrants can be redeemed by the company when the stock trades at $18 or higher for 20 out of 30 trading days.). One SPAC drawing attention is Social Capital Hedosophia VI (NYSE:IPOF). When it went public last year, SCH VI raised $1.15 billion in cash, making it one of the largest SPACs ever. Only a handful have cleared the $1 billion mark. Those returns are why traders have bid up IPOF stock as well as Social Capital … SCH VI also has Class B stock, referred to as “Founder Shares.” There are 28.75 million Class B shares outstanding, owned by Palihapitiya and his partners. A high-level overview of Social Capital Hedosophia Holdings Corp. VI Units (IPOFU) stock. Here are five SPACS that stood out to me among the hundreds available. SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP. VI CORPORATE GOVERNANCE GUIDELINES Adopted October 8, 2020 The Board of Directors (the “Board”) of Social Capital Hedosophia Holdings Corp. VI… If you realize what a pre-deal SPAC investment is, today's move shouldn't be too surprising. Social Capital Hedosophia Holdings Corp. VI is a blank check company. Article printed from InvestorPlace Media, https://investorplace.com/2021/02/ipof-stock-priced-for-trade-not-investment/. IPOF stock currently trades at $15. The case for buying a SPAC pre-merger really comes down to the sponsor. There aren’t new Opendoors and SoFis looking to go public every month. The company’s stock price has collected 3.57% of gains in the last five trading sessions. Once warrants are exercised, SCH VI’s cash pile will total $1.48 billion, or about $8.68 per share. Everything you need to know about the Social Capital Hedosophia Holdings VI IPO including Offer Price, Filed Date, IPO Date, Offer Shares, Dealsize and Underwriters. Some of that is due to time on public markets; the older SPACs have done better. As a result, the $5 per share premium to the $10 redemption price of the stock thus requires that SCH VI and its founder Chamath Palihapitiya create more than $1 billion in value when it eventually finds a merger target. SCH’s first SPAC turned into Virgin Galactic (NYSE:SPCE). Our Social Capital Hedosophia Holdings Corp VI (IPOF) consensus estimates gives you the next 12-Months price consensus forecasts, based on industry's top analysts But part of the issue with the SCH “family” likely is that investors are getting progressively worse ideas. Financial health is measured at one point in time, so the latest financial report is the best representation of the company’s current financial status. In its IPO, SCH VI didn’t just sell stock. After weighing the good and the bad, I think it's too close to call. This company could fit nicely into the notable SPAC investor's style. For a number of reasons, that requirement seems crazy. Yes, SCH SPACs have done well — but in one of the most bullish environments we’ve seen in the past 20 years. View the latest Social Capital Hedosophia Holdings Corp. VI Cl A (IPOF) stock price, news, historical charts, analyst ratings and financial information from WSJ. Can SCH VI create that value? Social Capital Hedosophia Holdings is a partnership between the investment firms of Social Capital and Hedosophia. The volatility ratio for … Social Capital Hedosophia Holdings VI (NYSE:IPOF) and IPOF stock may be the ultimate litmus test for the sustainability of this craze. Palihapitiya has announced deals for his first three SPACs — IPOA, IPOB and IPOC — and also been a fi... 2020 was a banner year for special purpose acquisition corporations. For a quick refresher, dive in with InvestorPlace. The latest Social Capital Hedosophia Holdings Corp VI USD0.0001 A share price. Source: Pasuwan/ShutterStock.com The average Social Capital Hedosophia Holdings VI stock price for the last 52 weeks is 13.00. If $23 is the worst an investor has done in an SCH investment, then $15 is a solid price to pay. That’s 50% above the redemption price, and an even greater premium to the cash per share in the SCH VI account. But there are fundamental concerns, and an argument that the easy money long since has been made. Social Capital Hedosophia Holdings Corp. VI operates as a blank check company. Palihapitiya reacted strongly to the report, but the fact is that the investigation was kept from SPAC shareholders. Social Capital Hedosophia V (NYSE:IPOE) is merging with Social Finance, and has run to $23 as a result. CLOV now trades around $12 after a short seller without a position released a report that disclosed a U.S. Department of Justice (DOJ) investigation into the company. Social Capital Hedosophia Holdings Corp. VI. In fact, IPOF stock is up nearly 50% from its opening price of $10 (That’s the standard opening price for a SPAC). Put another way, that target is going to accept $1.48 billion in cash from SCH VI. Social Capital Hedosophia Holdings VI's cash and debt levels may be found in its annual reports archived here. Social Capital Hedosophia Holdings VI pre-IPO overview from MarketWatch. Post-Market 0.01 (0.07%) Pershing Square Tontine (NYSE:PSTH) set the record with $4 billion in its IPO in July. The new company aims to combine with an innovative and agile technology company that is at an inflection point with strong potential growth. Nasdaq Chamath Palihapitiya has been one of the most well-known names in the SPAC market in 2020. At some point, the boom is going to end. - Renaissance Capital While we may pursue an initial business combination target in any industry or geographic location, we intend to focus our search for a target business operating in the technology industries. But at $15, IPOF stock is valued (using that 170.5 million count that includes warrants) at $2.56 billion. IPOF stock is a worthy speculation here, given Chamath's overall track record. All rights reserved. Chamath Palihapitiya announced IPOE would take SoFi public. At the moment, IPOF stock already is pricing in a rather valuable merger target. IPOF 14.98 0.38 (2.60%). Almost more than 50% above the redemption price, IPOF stock is a simple bet that the SPAC bubble will stay inflated. IPOF stock probably is a buy until that point — but after, that’s unlikely. In other words, the market already is pricing the creation of $1.08 billion in value from whatever SPAC deal Social Capital Hedosophia comes up with. Bear in mind that there are 115 million shares outstanding Class A shares outstanding — but that’s not the entirety of the equity in the SPAC. View recent trades and share price information for Social Capital Hedosophia Holdings Corp VI USD0.0001 A Social Capital Hedosophia Holdings Corp. VI is registered with the U.S. Security and Exchange Commission and incorporated in the state of Cayman Islands. Chamath Palihapitiya's latest SPAC target is a different kind of fintech. 3 Big Stories to Catch Up On. The company’s stock price has collected 2.29% of gains in the last five trading sessions. Get Social Capital Hedosophia Holdings Corp VI (IPOF^:NYSE) real-time stock quotes, news, price and financial information from CNBC. There was a lot of SPAC merger news for investors to digest this week. 2021 InvestorPlace Media, LLC. Meanwhile, there is a slightly more cautionary tale: Clover Health (NASDAQ:CLOV). What Did the Stock Market Do Today? These shares will convert one-for-one to Class A stock. All rights reserved. Social Capital Hedosophia Holdings Corp VI NYSE Updated Feb 19, 2021 9:59 PM. With the Lucid Motors Merger Confirmed, CCIV Stock Is Your 10X Opportunity, Workhorse May Have a Texas-Sized ‘Bitcoin Problem’, Buy the Dip in NIO Stock Before It Races to $100, CCIV Stock: 10 Things You Need to Know About the Lucid Motors SPAC Merger, 8 Sleeper Stocks That Could Take Off Soon. There are a significant number of Class B shares as well as redeemable warrants. Social Capital Hedosophia Holdings Corp. VI intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the technology industries. That aside, CLOV was still below $16 before the report. Meanwhile, with so many SPACs coming to market, SCH’s negotiating power takes a hit. The Social Capital Hedosophia Holdings VI 52-week low stock price is 10.08, which is 35.6% below the current share price. Social Capital Hedosophia Holdings Corp. VI. Social Capital Hedosophia Holdings Corp. VI is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combinat ion with one or more businesses. Social Capital Hedosophia Holdings Corp. VI (IPOF) Add to watchlist. 1125 N. Charles St, Baltimore, MD 21201. Hint: There's going to be a lot of new alternatives for investors.