Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Certain forward-looking non-GAAP measures are presented without corresponding GAAP reconciliations due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of SCH’s registration on Form S-1 (File Nos. Our ecosystem of products, rewards and membership benefits all work together to help our members get their money right. The transaction values the Company at an equity value of $8.65 billion post-money. Personal loans, student loans, home loans, and loan refinancing are all part of SoFi's lending services. Overview International Stem Cell Corporation (ISCO) is a publicly traded biotechnology company with a powerful new stem cell technology called human parthenogenetic activation that promises to significantly advance the field of regenerative medicine. Bulgaria is a country in southeastern Europe.It is bordered by Romania to the north, Serbia and North Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east. The combination is further supported by a $1.2 billion PIPE at $10 per share led by Chamath Palihapitiya, Founder and CEO of SCH, and Hedosophia, with commitments from funds and accounts managed by BlackRock, Altimeter Capital Management, Baron Capital Group, Coatue Management, Durable Capital Partners LP, and Healthcare of Ontario Pension Plan (HOOPP). Log In. A proxy statement/prospectus will be sent to all SCH shareholders. This press release relates to a proposed transaction between SoFi and SCH. SoFi’s world-class management team, led by Noto, will continue to lead SoFi following the transaction. SoFi launches SoFi Money ® and SoFi Invest ®. SoFi also received a previous anchor investment from funds and accounts advised by T. Rowe Price Associates, Inc. “SoFi’s innovative, member-first platform has demystified financial services for millions of Americans and simplified the process for those looking to apply for loans, invest their money, obtain insurance and refinance their debt, among many other tasks that were previously arcane and needlessly complicated,” states Chamath Palihapitiya, Founder and CEO of Social Capital Hedosophia V. He continues, “Additionally, the acceleration of cross-buying by existing SoFi members has created a virtuous cycle of compounding growth, diversified revenue, and high profitability. SoFi helps people achieve financial independence to realize their ambitions. SoFi also received a previous anchor investment from funds and accounts advised by T. Rowe Price Associates, Inc. SoFi, A Leading Next-Generation Financial Services Platform, to Become Publicly-traded via Merger with Social Capital Hedosophia. Real-time trade and investing ideas on SoFI SOFI from the largest community of traders and investors. He continues, “With the secular acceleration in digital-first financial services offerings, SoFi is the only company providing a comprehensive solution all in one app. We look forward to helping more people get their money right in the years to come.”. SoFi has raised $2.1 billion in funding, including $500 million in a round led by Silver Lake Partners. Our ecosystem of products, rewards, and membership benefits all work together to help our members get their money right. Neither SoFi nor SCH gives any assurance that either SoFi or SCH, or the combined company, will achieve its expectations. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Privately owned companies are not traded on the stock exchange. 333-248915 and 333-249396), the registration statement on Form S-4 discussed above and other documents filed by SCH from time to time with the SEC. DOW 0.00%. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. The new investments and our partnership with Social Capital Hedosophia signify the confidence in our strategy, the momentum in our business, as well as the significant growth opportunity ahead of us. Gasthalter & Co. Galileo has approximately 50 million accounts on its platform. This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between SoFi and SCH. On Thursday, Social Finance, Inc. (“SoFi”), a leading next-generation financial services platform, entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly-traded special purpose acquisition company, to bring a major consumer-focused financial technology business to the public markets. The Company’s world-class management team, led by CEO Anthony Noto, will continue to lead SoFi following the transaction. Existing SoFi shareholders will roll 100 percent of their equity into the combined company. 2020 Jan 2020. Watch . PRIVATE Updated Jan 1, … You may obtain free copies of these documents as described in the preceding paragraph. SoFi’s full suite of financial products offers members the speed, selection, content and convenience that only an integrated digital platform can provide and allows them to manage their financial lives in one application, all on their phone. For more information, visit www.SoFi.com or download our iOS and Android apps. The transaction, which has been unanimously approved by SCH’s board of directors and the independent directors of SoFi’s board of directors, is expected to close in the first quarter of 2021, and is subject to approval by SCH's shareholders and other customary closing conditions, including any applicable regulatory approvals. For more market trends, visit ETF Trends. Concurrent with closing, $150 million of the transaction proceeds will be used for strategic secondary transactions that will help structure SoFi’s pro forma capitalization table in a way that is more conducive to obtaining an OCC national bank charter. SoFi, the San Francisco fintech company whose products range from student loans to cryptocurrency trading, is buying Salt Lake City payments firm … rrosenzweig@sofi.org The new investments and our partnership with Social Capital Hedosophia signify the confidence in our strategy, the momentum in our business, as well as the significant growth opportunity ahead of us. Citi and Goldman Sachs & Co. acted as financial advisor and placement agent, and Wachtell, Lipton, Rosen & Katz and Goodwin Procter LLP acted as legal advisors to SoFi. Non-GAAP Financial Measure and Related Information. SoFi’s one-stop-shop, multi-product strategy, and leading technology platform, Galileo, place the company at the epicenter of the digital revolution in financial services. The combination is further supported by a $1.2 billion PIPE at $10 per share led by Palihapitiya, with commitments from funds and accounts managed by BlackRock, Altimeter Capital Management, Baron Capital Group, Coatue Management, Durable Capital Partners LP, and Healthcare of Ontario Pension Plan (HOOPP). SoFi seems to have pinpointed a pain point for students who borrow money--the loan rates are too high. Sign Up. They continue to maintain a policy of no fees for their loans, aside from the interest. In addition, such financial information is unaudited and does not conform to SEC Regulation S-X and, as a result, such information may be presented differently in future filings by the Company with the SEC. Trending now. These non-GAAP financial measures do not have a standardized meaning, and the definition of adjusted net revenue and adjusted EBITDA used by SoFi may be different from other, similarly named non-GAAP measures used by others. Finsbury With over $6 billion dollars in loans issued, SoFi has become one of the largest marketplace lenders. SoFi, a financial services platform, has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V (“SCH”) (NYSE: IPOE), a publicly traded special purpose acquisition company founded by CEO Chamath Palihapitiya, to bring a major consumer-focused financial technology business to the public markets SoFi has entered into a definitive agreement with Social Capital Hedosophia Holdings Corp. V ("SCH") (NYSE: IPOE), a publicly traded special purpose acquisition company, to bring a … Connaught acted as financial advisor, Credit Suisse acted as financial advisor, capital markets advisor and placement agent, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to SCH. SoFI. Management of SoFi and SCH will host an investor conference call on January 7, 2021 at 1 PM ET to discuss the proposed transaction and review an investor presentation. Get the entire 10-part series on our in-depth study on activist investing in PDF. sara.evans@finsbury.com / kerry.golds@finsbury.com Concurrent with closing, $150 million of the transaction proceeds will be used for strategic secondary transactions that will help structure SoFi’s pro forma capitalization table in a way that is more conducive to obtaining an OCC national bank charter. All references to available cash from the trust account and retained transaction proceeds are subject to any redemptions by the public shareholders of SCH and payment of transaction expenses. Rooms Rankings Earnings Calendar Shop. The transaction values the Company at an equity value of $8.65 billion post-money. 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