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SoFi to Go Public Through SPAC Merger at $8.6B Valuation
The lending fintech agreed to merge with SPAC Social Capital Hedosophia Holdings Corp.
Lending fintech Social Finance (SoFi) said Thursday it will go public through a merger with a special purpose acquisition company.
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- 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.
Danny Nelson
Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
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