Social Capital Hedosophia Holdings Corp III - Ordinary Shares - Class A

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Equity Investments, Mergers / Acquisitions

Clover Health A NextGeneration Medicare Advantage Insurer Announces Plans To Become Publicly Traded Via Merger With Social Capital Hedosophia

Published: 10/06/2020 11:28 GMT
(IPOC) - Clover Health, a Next-generation Medicare Advantage Insurer, Announces Plans to Become Publicly-traded Via Merger With Social Capital Hedosophia.
Social Capital Hedosophia Holdings Corp Iii - Transaction Values Clover at an Enterprise Value of $3.7 Billion.
Social Capital Hedosophia Holdings Corp Iii - Clover is Expected to Receive Up to $728 Million of Transaction Proceeds.
Social Capital Hedosophia Holdings Corp Iii - Deal Expected to Provide Up to $1.2 Billion in Cash Proceeds.
Social Capital Hedosophia Holdings Corp Iii - Pipe Led by $100 Million From Chamath Palihapitiya, and $50 Million From Hedosophia.
Social Capital Hedosophia Holdings Corp Iii - Up to $500 Million of Cash Proceeds is Expected to Be Allocated to Existing Clover Shareholders.
Social Capital Hedosophia Holdings Corp Iii - Clover is Expected to Receive Up to $728 Million of Transaction Proceeds.
Social Capital Hedosophia Holdings Corp Iii - Deal Includes Fully Committed Pipe of $400 Million, Up to $828 Million Cash Held in Trust Account of Co.
Social Capital Hedosophia Holdings Corp Iii - Up to $500 Million of Cash Proceeds is Expected to Be Allocated to Existing Clover Shareholders.
Social Capital Hedosophia Holdings Corp Iii - Chamath Palihapitiya, Will Act As Senior Advisor to Co's Management.
Social Capital Hedosophia Holdings Corp Iii - Clover's Management Team, Led by Vivek Garipalli, Andrew Toy, to Continue to Lead Clover Following Deal.