Full Press Release Details
Social Capital Hedosophia Holdings Corp.
III Announces Pricing of
Upsized $720 Million Initial Public Offering
ALTO, CA, April 21, 2020 - Social Capital Hedosophia Holdings Corp. III (the "Company") announced today
that it priced its initial public offering of 72,000,000 units at $10.00 per unit. The units will be listed on the New York Stock
Exchange (the "NYSE") and trade under the ticker symbol "IPOC.U" beginning April 22, 2020. Each unit consists
of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase
one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising
the units begin separate trading, the Class A ordinary shares and redeemable warrants are expected to be listed on the NYSE under
the symbols "IPOC" and "IPOC WS," respectively.
The Company is a blank check company formed for the purpose
of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination
with one or more businesses. The Company intends to focus on businesses in the technology industries primarily located outside
Suisse is acting as sole book-running manager. The Company has granted the underwriter a 45-day option to purchase up to
an additional 10,800,000 units at the initial public offering price to cover over-allotments, if any.
offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from Credit Suisse,
Attn: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010, Telephone: 1-800-221-1037, Email:
statements relating to the securities became effective on April 21, 2020. This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state
Forward-Looking Statements
press release contains statements that constitute "forward-looking statements," including with respect to the proposed
initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated.
Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those
set forth in the Risk Factors section of the Company's preliminary prospectus for the Company's offering filed with
the U.S. Securities and Exchange Commission (the "SEC"). Copies of these documents are available on the SEC's
website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of
this release, except as required by law.
Social Capital Hedosophia Holdings Corp. III