UPDATE: SVF Investment Corp. 3 (SVFC) Prices 28M Share IPO at $10/Sh
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(Updated - March 9, 2021 5:38 AM EST)
SVF Investment Corp. 3 (NASDAQ: SVFC) announced today the pricing of its initial public offering of 28,000,000 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 "SVFC" 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 Ioannis Pipilis, Managing Partner for SBIA, and Navneet Govil, the CFO of SBIA. Michael Carpenter and Michael Tobin 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 $200,000,000 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 4,000,000 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.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings, IPOs, SPAC
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