IPOE - SoFi to trade from June 1 merger transaction with Chamath's Social Capital closed

May, 28 2021 01:14 PM Social Capital Hedosophia Holdings Corp. V Class A

Online finance company Social Finance and Social Capital Hedosophia ([[IPOE]] +1.4%) closed their earlier announced transaction to take SoFi public.Post closure, the publicly traded consumer-focused financial technology platform will be named SoFi Technologies, expected to commence trading on June 1 under the new symbol, "SOFI" and warrants under "SOFIW".SoFi raised ~$2.4B in cash proceeds from the transaction which will enable the company to expand geographically and build the first digital one-stop-shop for members to borrow, save, spend, invest and protect their money.SoFi will offer its customers the ability to invest in initial public offerings before trading begins in those companies; will be available for members with at least $3K of cash and settled assets in their SoFi accounts.For Q1. SoFi reported adj. net revenue of $216M which abive guidance of $190 to $195M; reaffirmed FY21 adj. net revenue guidance of $980M indicating growth of 58% Y/Y.CEO Anthony Noto and SoFi's management team will continue to lead

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SoFi to trade from June 1, merger transaction with Chamath's Social Capital closed

Company Name:	Social Capital Hedosophia Holdings Corp. V Class A
Stock Symbol:	IPOE
Market:	NYSE
Website:	sofi.com/

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