SoFi Moving Forward With SPAC Merger Plans
Many investors got spooked when the online personal lender SoFi missed its merger date with Chamath Palihapitiya's special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings V (NYSE: IPOE), which had been slated for April 9.
But now things appear to be back on track. SoFi announced on Twitter yesterday that it has resubmitted its S-4 merger filing with the Securities and Exchange Commission to comply with new accounting guidance issued by the agency regarding SPACs.
"Once we clear any comments on the filing from the SEC, the next step would be to request effectiveness, followed by a mailing of the proxy and a duration of three weeks for shareholders to vote," SoFi tweeted.
Source Fool.com
