SoftBank's SVF Investment Corp. 2 Announces Pricing of $200 Million Initial Public Offering
SVF Investment Corp. 2 announced the pricing of its initial public offering (IPO) of 20 million Class A ordinary shares at $10.00 per share, aiming to raise $200 million. The shares will trade on Nasdaq under the ticker symbol SVFB starting March 9, 2021. The Company, sponsored by SoftBank Investment Advisers, seeks to engage in business combinations within the technology sector. Additionally, an affiliate entered a forward purchase agreement to buy up to $150 million in shares post-IPO. Five investment banks are managing the offering.
- The IPO is expected to raise $200 million, enhancing liquidity for potential acquisitions.
- Forward purchase agreement of $150 million may provide additional funding for future business operations.
- The issuance of 20 million shares could lead to dilution of existing shareholder value.
SAN CARLOS, Calif., March 8, 2021 /PRNewswire/ -- SVF Investment Corp. 2 (the "Company") announced today the pricing of its initial public offering of 20,000,000 Class A ordinary shares at
The Company is sponsored by SoftBank Investment Advisers ("SBIA"), the investment manager to the SoftBank Vision Funds. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in a technology-enabled sector. The company is led by Munish Varma, Managing Partner for SBIA, and Navneet Govil, the CFO of SBIA. Sunil Gulati and Fred Hochberg will serve on the board as independent directors.
In addition, an affiliate of the sponsor entered into a forward purchase agreement with us on March 8, 2021 that provides for the purchase of up to
Citigroup Global Markets Inc., UBS Securities LLC, Deutsche Bank Securities Inc., Cantor Fitzgerald & Co., and Mizuho Securities USA LLC are acting as book-running managers in the offering. The Company has granted the underwriters a 45-day option to purchase up to 3,000,000 additional shares at the initial public offering price to cover over-allotments, if any.
The public offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained for free from the U.S. Securities and Exchange Commission website http://www.sec.gov; Citigroup Global Markets Inc., c/o 388 Greenwich Street, New York, New York, 10013, Telephone: 1-646-291-1469; UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, Attention: Syndicate , Fax +1 (212) 713-3371; Deutsche Bank Securities Inc., 60 Wall Street, 2nd Floor, New York, New York 10005, Attention: Equity Capital Markets – Syndicate Desk, with a copy to Deutsche Bank Securities Inc., 60 Wall Street, 36th Floor, New York, New York 10005, Attention: General Counsel, Fax: +1 (646) 374-1071; Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com; and Mizuho Securities USA LLC, 1271 Avenue of the Americas, New York, NY 10020, Attention: Equity Capital Markets.
A registration statement relating to the securities sold in the initial public offering has been declared effective by the U.S. Securities and Exchange Commission on March 8, 2021. 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 or jurisdiction.
For more information, please see www.svfinvestmentcorp.com.
Forward-looking statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and the anticipated use of the net proceeds thereof. 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 registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies 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.
About SVF Investment Corp. 2
SVF Investment Corp. 2 is a newly organized blank check company formed by an affiliate of SoftBank Investment Advisers ("SBIA"). Through the SoftBank Vision Funds, SBIA is investing up to
Contacts
For investor inquiries: svfinvestmentcorp@softbank.com
For media inquiries: rowan@softbank.com
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SOURCE SVF Investment Corp
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