Social Capital Hedosophia Holdings Corp. Announces Pricing of $600,000,000 Initial Public Offering

PALO ALTO, Calif.–(BUSINESS WIRE)–Social Capital Hedosophia Holdings Corp. (the “Company”), a blank check
company formed for the purpose of entering into a merger, share
exchange, asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses, today announced the
pricing of its initial public offering of 60,000,000 units at a price of
$10.00 per unit. The units will be listed on the New York Stock Exchange
(the “NYSE”) and trade under the ticker symbol “IPOA.U” beginning
September 14, 2017. Each unit consists of one Class A ordinary share and
one-third of one warrant. Each whole warrant may be exercised for one
Class A ordinary share at a price of $11.50 per share. Only whole
warrants are exercisable. Once the securities comprising the units begin
separate trading, the Class A ordinary shares and warrants are expected
to be listed on the NYSE under the symbols “IPOA” and “IPOA WS,”

Credit Suisse is serving as the sole manager for the offering. The
Company has granted the underwriters a 45-day option to purchase up to
an additional 9,000,000 units at the initial public offering price to
cover over-allotments, if any.

The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from Credit Suisse,
Prospectus Department, One Madison Avenue, New York, NY 10010;
telephone: (800) 221-1037; email:
A registration statement relating to the securities was declared
effective by the SEC on September 13, 2017. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.

This press release contains statements that constitute “forward-looking
statements,” including with respect to the proposed initial public
offering and the anticipated use of the net proceeds. No assurance can
be given that the offering discussed above will be completed on the
terms described, or at all, or that the net proceeds of the offering
will be used as indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of the
Company’s registration statement and preliminary prospectus for the
Company’s offering filed with the Securities and Exchange Commission
(“SEC”). Copies are available on the SEC’s website,
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as required
by law.

Leave a Reply

Your email address will not be published. Required fields are marked *


eleven + 2 =