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Miguel Cordon · · 1 min readReport: SoftBank looks to raise up to $630m through 2 SPACs
“SoftBank plans to raise as much as US$630 million through two more blank-check companies, capitalizing on record investor demand for the vehicles,” Bloomberg reported.
Details
- SoftBank vehicle, SVF Investment Corp 2, has entered an agreement to commit US$100 million to US$150 million of capital when it combines with another firm.
- Meanwhile, SVF Investment Corp 3 agreed to set aside US$150 million to US$200 million when it closes a merger deal.
- The two SPACs will focus on diverse areas of technology, including AI and mobile communications.
Context
- Late last year, SoftBank filed to raise between US$500 million and US$600 million through an initial public offering of its first special purpose acquisition company.
Editing by Collin Furtado and Jaclyn Teng
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