One of the “most straightforward investments”, in the words of Chamath Palihapitiya, gets a vote date to approve the deal.
Shareholders of Social Capital Hedosophia Holdings Corp III (NYSE: IPOC) will vote on the SPAC deal with Clover Health on Jan. 6, 2021. They can attend the meeting at 525 University Ave, Palo Alto, California 94301, or virtually via live webcast available here.
The $3.7 billion deal aims to supercharge Clover Health’s streak as the fastest-growing Medicare Advantage insurer in the US.
Clover Health will begin trading on NASDAQ with the ticker CLOV if the deal is approved.
As an alternative to traditional IPOs, SPACs have exploded in popularity this year. Total proceeds from SPACs have exceeded $48 billion in 2020 across 130 different SPACs . This year will be a record year for SPAC deals.