SoftBank s Vision Fund To Launch 2 More SPACs, For Total IPO Raise Of $550 Million Benzinga 2/6/2021
SoftBank Group Corp (OTC: SFTBY) is planning to launch two more SPACs.
What Happened: The two SPACs aim to raise a total of $550 million in their IPOs, Reuters reported, citing regulatory filings.
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SVF Investment Corp 2 would offer 20 million shares and warrants, and SVF Investment Corp 3 would offer 35 million shares, all priced at $10 each. The SPACs would be listed on the Nasdaq.
Why It Matters: Japan-based SoftBank, led by Masayoshi Son, has been a major tech investor through its Vision Fund and is taking an increasing interest in SPACs. In January, its first SPAC,
SoftBank Dumps $2B Worth Of Uber Shares After Stock s Rally Benzinga 1/12/2021
SoftBank Group Corp’s (OTC: SFTBY) Vision Fund has disposed of $2 billion worth of
Uber Technologies Inc (NYSE: UBER) common stock shares last week, as reported earlier by Bloomberg.
What Happened: The technology sector investment firm sold off 38 million shares in the ride-hailing company at $53.46 each on Jan. 7. The sale was carried out through an affiliate company, SB Cayman 2 Ltd, as per a filing with the U.S. Securities and Exchange Commission on Monday.
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After adjusting for the sale transaction, SoftBank will continue to hold 184.2 million shares valued at approximately $10 billion based on the current stock price.