The current price of Social Capital Hedosophia Holdings Corp V IPOE is a good entry point, "SPACs Attack" co-host Chris Katje said Friday the Benzinga's YouTube show.
Social Capital Hedosophia Holdings Corp V is set to merge with Social Finance (SoFi).
What Happened: The company added a Twitter account for investor relations and refiled an S-4 with new warrant classifications, Katje said, adding that he expects a merger deal announcement sometime soon. The stock could run going into the merger agreement, he noted.
The transaction values SoFi at an equity value of $8.65 billion and is expected to provide up to $2.4 billion in cash proceeds.
Social Capital Hedosophia Holdings Corp V traded as high as $28.26 after the initial announcement, but has since pulled back as the SPAC-trade has slowed down.
Related Link: SoFi Merging With Palihapitiya-Backed IPOE SPAC
Price Action: Social Capital Hedosophia Holdings Corp V was up 1.71% at $116.10 at last check Friday afternoon.
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