SVF Investment Corp. 2 (SVFB) Prices 20M Class A Share IPO at $10/Sh

March 9, 2021 5:33 AM EST

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

SVF Investment Corp. 2 (NASDAQ: SVFB) announced today the pricing of its initial public offering of 20,000,000 Class A ordinary shares at $10.00 per share. The shares will be listed on the Nasdaq Capital Market ("Nasdaq") in the United States and trade under the ticker symbol "SVFB" beginning on March 9, 2021.

The Company is sponsored by SoftBank Investment Advisers ("SBIA"), the investment manager to the SoftBank Vision Funds. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in a technology-enabled sector. The company is led by Munish Varma, Managing Partner for SBIA, and Navneet Govil, the CFO of SBIA. Sunil Gulati and Fred Hochberg will serve on the board as independent directors.

In addition, an affiliate of the sponsor entered into a forward purchase agreement with us on March 8, 2021 that provides for the purchase of up to $150,000,000 forward purchase Class A ordinary shares, for $10.00 per share, in a private placement to close substantially concurrently with the closing of the initial business combination.

Citigroup Global Markets Inc., UBS Securities LLC, Deutsche Bank Securities Inc., Cantor Fitzgerald & Co., and Mizuho Securities USA LLC are acting as book-running managers in the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional shares at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Equity Offerings, IPOs, SPAC

Related Entities

Deutsche Bank, UBS, Cantor Fitzgerald, Citi, Definitive Agreement, IPO, SPAC