PALO ALTO, Calif., April 21, 2020 /PRNewswire/ -- Social
Capital Hedosophia Holdings Corp. III (the
"Company") announced today that it priced its initial public
offering of 72,000,000 units at $10.00 per unit. The units will be listed on
the New York Stock Exchange (the "NYSE") and trade under the
ticker symbol "IPOC.U" beginning April 22,
2020. Each unit consists of one Class A ordinary share
and one-third of one redeemable warrant. Each
whole warrant entitles the holder thereof to purchase 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 redeemable
warrants are expected to be listed on the NYSE under the
symbols "IPOC" and "IPOC WS," respectively.
The Company is a blank check company formed for the purpose of
effecting a merger, amalgamation, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. The Company intends to
focus on businesses in the technology industries primarily located
outside the United States.
Credit Suisse is acting as sole book-running
manager. The Company has granted the underwriter a 45-day
option to purchase up to an additional 10,800,000 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, Attn: Prospectus Department, Eleven Madison
Avenue, 3rd Floor, New York,
NY 10010, Telephone: 1-800-221-1037, Email:
usa.prospectus@credit-suisse.com.
Registration statements relating to the securities became
effective on April 21, 2020. 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.
Forward-Looking Statements
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 preliminary prospectus for the Company's
offering filed with the U.S. Securities and Exchange Commission
(the "SEC"). Copies of these documents are available on the
SEC's website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the
date of this release, except as required by law.
Investor Contact:
Social Capital Hedosophia Holdings Corp. III
Legal@SocialCapital.com
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SOURCE Social Capital Hedosophia Holdings Corp.