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One of Chamath Palihapitiya-backed SPACs merger vote date is Wednesday, Jan. 6.
What Happened: Shareholders of Social Capital Hedosophia Holdings Corp III (NYSE:IPOC) will vote on the merger with Medicare Advantage provider Clover Health, valuing the company at $3.7 billion.
What’s Next: If the merger is approved, shares of Clover Health will switch over from the NYSE to NASDAQ and trade under ticker CLOV.
The last day of shares trading on the NYSE is expected to be on Jan. 7. Shares will make the switch on Jan. 8 at the earliest if the merger is approved.
Shareholders of Social Capital Hedosophia Holdings Corp III will own 18.7% of the company after the merger.
Price Action: Shares of Social Capital Hedosophia Holdings Corp III were down 3% to $15.09 on Tuesday.
Related Link: Chamath Palihapitiya’s IPOD, IPOE, IPOF SPACs: What Investors Should Know
Posted In: IPOC
