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SoFi to Go Public Through SPAC Merger at $8.6B Valuation

SoFi to Go Public Through SPAC Merger at $8.6B Valuation

SoFi to Go Public Through SPAC Merger at $8.6B Valuation

The lending fintech agreed to merge with SPAC Social Capital Hedosophia Holdings Corp.

The lending fintech agreed to merge with SPAC Social Capital Hedosophia Holdings Corp.

The lending fintech agreed to merge with SPAC Social Capital Hedosophia Holdings Corp.

AccessTimeIconJan 7, 2021, 9:40 PM
Updated Aug 19, 2021, 6:32 AM

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Lending fintech Social Finance (SoFi) said Thursday it will go public through a merger with a special purpose acquisition company.

  • The online lending platform, which has a digital asset trading subsidiary, agreed to merge with venture capital backer Chamath Palihapitiya's Social Capital Hedosophia Holdings Corp.
  • The deal values SoFi at $8.65 billion, according to a press release.
  • SoFi recently secured conditional approval for a national bank charter from U.S. banking regulators.

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