One of the most well-known pending SPAC deals is the merger between fintech SoFi and Social Capital Hedosophia Holdings Corp V IPOE.
What Happened: SoFi and IPOE will host a meeting May 27 to tally the vote for the SPAC merger. If the merger is approved, shares will stop trading as IPOE on May 28.
Shares of SoFi will transfer from the NYSE to the Nasdaq and trade under new ticker SOFI on June 1 if the merger is approved.
Related Link: Why SoFi Acquiring A Bank Is Important For Investors
Why It’s Important: Shares of IPOE are up 22% in the last month as investors seem confident the merger goes through and SoFi will be successful over the long run.
After months of SPACs selling off the post-merger vote, several companies that have recently completed their SPACs are trading higher than the price pre-vote.
Price Action: Shares of IPOE are up 2% to $20.25 on Tuesday.
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