SoFi Moving Forward With Pre-IPO and SPAC Offering Plans
SoFi will soon go public through Chamath Palihapitiya's blank-check company Social Capital Hedosophia Holdings Corp. V (NYSE: IPOE). SoFi will serve as an underwriter in an upcoming initial public offering (IPO) for a special purpose acquisition company (SPAC).
The move shows that the online lender is moving forward with its plans to allow retail investors to invest in IPOs and SPACs at the pre-listing stage.
SoFi runs an online brokerage as part of its sprawling financial services organization. Earlier this year, the company said it would make it possible for members with at least $3,000 of cash and settled assets in their SoFi Invest accounts to participate in new offerings before they hit the public markets.
Source Fool.com
