Is Now The Time To Buy IPOE, Ahead Of Future Merger Announcement?

Is Now The Time To Buy IPOE, Ahead Of Future Merger Announcement?

Social Capital Hedosophia Holdings Corp V is set to merge with Social Finance (SoFi).

The current price of Social Capital Hedosophia Holdings Corp V (IPOE) is a good entry point, "SPACs Attack" co-host Chris Katje said Friday on the Benzinga's YouTube show.

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. 

Price Action: Social Capital Hedosophia Holdings Corp V was up 1.71% at $16.10 at last check Friday afternoon.

(Image by Firmbee from Pixabay)

Disclaimer: © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Anne Barry 2 weeks ago Member's comment

No, time to buy would be about a week after merge when it bottoms out

Adam Reynolds 2 weeks ago Member's comment

Yes, it is.