+$8 billion - Jan 7, 2020
SoFi to go public in merger with Chamath Palihapitiya’s newest SPAC
The deal, confirmed by SoFi, would value the fintech at $8.65 billion according to the company’s statement. It includes $2.4 billion in cash, encompassing $1.2 billion from a confirmed private placement (a PIPE instrument being led by Palihapitiya himself with participation from Altimeter, Baron Capital Group, BlackRock, Coatue and others), $805 million in funding from the SPAC’s balance sheet, and additional funds from a prior investment into SoFi closed last month led by T. Rowe Price.
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