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Is Now The Time To Buy IPOE, Ahead Of Future Merger Announcement?

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Is Now The Time To Buy IPOE, Ahead Of Future Merger Announcement?

The current price of Social Capital Hedosophia Holdings Corp V (NYSE: IPOE) is a good entry point, "SPACs Attack" co-host Chris Katje said Friday the Benzinga's YouTube show.

Social Capital Hedosophia Holdings Corp V is set to merge with Social Finance (SoFi).

What Happened: The company added a Twitter account for investor relations and refiled an S-4 with new warrant classifications, Katje said, adding that he expects a merger deal announcement sometime soon. The stock could run going into the merger agreement, he noted. 

The transaction values SoFi at an equity value of $8.65 billion and is expected to provide up to $2.4 billion in cash proceeds. 

Social Capital Hedosophia Holdings Corp V traded as high as $28.26 after the initial announcement, but has since pulled back as the SPAC-trade has slowed down. 

Related Link: SoFi Merging With Palihapitiya-Backed IPOE SPAC

Price Action: Social Capital Hedosophia Holdings Corp V was up 1.71% at $116.10 at last check Friday afternoon.

(Image by Firmbee from Pixabay)

 

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Posted-In: Chris Katje Mergers SPACsM&A News Small Cap IPOs Trading Ideas

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