Shearman And Sterling

News Apr 24, 2020

Social Capital Hedosophia Holdings Corp. III’s $828 Million IPO

Shearman & Sterling advised Credit Suisse as sole book-running manager on the initial public offering of Social Capital Hedosophia Holdings Corp. III, a special-purpose acquisition company, of 82.8 million units at an offering price of $10.00 per unit, each unit consisting of one Class A ordinary share and one-third of one redeemable warrant.

Social Capital Hedosophia Holdings Corp. III is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company intends to focus on businesses operating in the technology industries primarily located outside the United States. The company is led by Chamath Palihapitiya, CEO and chairman of the board of directors of the company, and founder and current managing partner of Social Capital, in partnership with Ian Osborne, president of the company, and co-founder and current CEO of Hedosophia.

The Team