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Opendoor, Social Capital Hedosophia Holdings Corp II Set Dec. 17 Vote Date

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Opendoor, Social Capital Hedosophia Holdings Corp II Set Dec. 17 Vote Date

One of the most talked about SPAC mergers of 2020 gets a vote date to approve the deal.

What Happened: Shareholders of Social Capital Hedosophia Holdings Corp II (NYSE: IPOB) will vote on the SPAC deal with Opendoor on Dec. 17, 2020.

Why It’s Important: Opendoor will begin trading on the New York Stock Exchange with the symbol OPEN if the deal is approved.

The completed deal could allow Opendoor to get analyst ratings and also become added to mutual funds and ETFs that shy away from SPACs prior to completed deals.

Related Link: Ark Investment ETF Adds SPAC Led By Chamath Palihapitiya Ahead Of Opendoor Merger

What’s Next: Chamath Palihapitiya, who leads Social Capital, took Virgin Galactic Holdings (NYSE: SPCE) public via a SPAC and has a pending deal to bring Clover Health public via Social Capital Hedosophia Holdings Corp III (NYSE: IPOC). Palihapitiya also took three more SPACs public that are searching for deals with IPOD, IPOE and IPOF.

The so-called SPAC King has plans to bring SPACs public with symbols IPOA to IPOZ.

Price Action: Shares of Social Capital Hedosophia Holdings Corp II are trading flat at $18.75 early Wednesday. Shares hit a high of $27 in October.

 

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