Fintech SoFi Inks $8.65B SPAC Deal Driven By 3 Firms

By Benjamin Horney (January 7, 2021, 12:40 PM EST) -- Financial technology lender SoFi will go public by merging with a special purpose acquisition vehicle in a private equity-backed deal that is valued at $8.65 billion and was built by Wachtell, Goodwin and Skadden, the companies said Thursday.

The transaction sees Social Finance Inc., or SoFi, combining with Social Capital Hedosophia Holdings Corp. V at a valuation of $8.65 billion, according to a statement. The resulting entity aims to be a "one-stop shop for financial services, including loan refinancing, mortgages, personal loans, credit cards, insurance, investing and deposit accounts." SoFi said roughly 50 million members use its platform, called Galileo....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!