Chamath Palihapitiya Says 'Today, we started the process of winding down IPOD and IPOF.' And Says 'the funds raised by IPOD and IPOF will be returned to their respective shareholders'
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Once touted as the SPAC King, Chamath Palihapitiya used blank check companies to take several private companies public. But as the SPAC craze dies out, the billionaire venture capitalist is now distancing himself from those particular investment vehicles. See Also: Trump's Deadbeat SPAC Switches To P.O. Box What Happened: According to a new filing, Palihapitiya currently holds less than 5% of shares in Clover Health Investments (NASDAQ:CLOV). From Sept. 27 to Oct. 3, he sold more than 11 million shares of Clover Health ranging in price of $1.55 to $2.02 per share. After the exit, Palihapitiya now owns some 19 million shares, or 4.99% of the company. The reporting person on the filing w
Known by many as the SPAC King, Chamath Palihapitiya was one of the biggest names associated with the growing number of blank check companies taking private companies public. When SPACs were hot with the market, Palihapitiya was loved by investors and companies. Years later, Palihapitiya has been less active in SPACs. An announcement Tuesday could see Palihapitiya face more criticism and continue to put a negative spotlight on SPACs. What Happened: Chamath Palihapitiya announced Tuesday that two SPACs he launched are liquidating. “Over the past two years, we evaluated more than 100 targets and while we came close to doing a deal several times, we ultimately walked away each time for a cou
https://chamathreads.substack.com/p/ipo-20-update?sd=pf
15-12G - Social Capital Hedosophia Holdings Corp. VI (0001818873) (Filer)
15-12G - Social Capital Hedosophia Holdings Corp. IV (0001818876) (Filer)
25-NSE - Social Capital Hedosophia Holdings Corp. VI (0001818873) (Subject)
3 - Social Capital Hedosophia Holdings Corp. IV (0001818876) (Issuer)
3 - Social Capital Hedosophia Holdings Corp. IV (0001818876) (Issuer)
3 - Social Capital Hedosophia Holdings Corp. VI (0001818873) (Issuer)
SC 13G/A - Social Capital Hedosophia Holdings Corp. IV (0001818876) (Subject)
SC 13G/A - Social Capital Hedosophia Holdings Corp. IV (0001818876) (Subject)
SC 13G - Social Capital Hedosophia Holdings Corp. VI (0001818873) (Subject)
On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the U.S. Securities and Exchange Commission (the "SEC") together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (‘SPACs')" (the "SEC Staff Statement"). As previously disclosed, given the scope of the process for determining the appropriate accounting treatment of its outstanding warrants in accordance with the SEC Staff Statement and Accounting Standards Codification ("A
On April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the U.S. Securities and Exchange Commission (the "SEC") together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled "Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies (‘SPACs')" (the "SEC Staff Statement"). As previously disclosed, given the scope of the process for determining the appropriate accounting treatment of its outstanding warrants in accordance with the SEC Staff Statement and Accounting Standards Codification ("A