{"id":83036,"date":"2020-10-06T18:56:19","date_gmt":"2020-10-06T15:56:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/clover-health-set-to-go-public-through-blank-check-company\/"},"modified":"2020-10-06T18:56:19","modified_gmt":"2020-10-06T15:56:19","slug":"clover-health-set-to-go-public-through-blank-check-company","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/clover-health-set-to-go-public-through-blank-check-company\/","title":{"rendered":"#Clover Health set to go public through blank-check company"},"content":{"rendered":"

“#Clover Health set to go public through blank-check company<\/strong>”
\n<\/p>\n

\n Clover Health, a Medicare-focused insurance startup based in Jersey City, NJ, said Tuesday it will go public after merging with the latest blank-check company from Silicon Valley investor Chamath Palihapitiya.<\/p>\n

Clover, which has more than 57,000 members in seven states, will be valued at $3.7 billion. Palihapitiya will be investing $400 million in Clover through his blank-check company Social<\/a> Capital Hedosophia Holdings Corp. III.<\/p>\n

\u201cWe need companies like Clover to help fix our broken healthcare system,\u201d Palihapitiya said in a statement. \u201cThe Company\u2019s rapid growth is a testament to the effectiveness of its tech-enabled app<\/a>roach, which resonates powerfully with consumers and physicians alike.\u201d<\/p>\n

This is Palihapitiya\u2019s third IPO in 12 months through a blank-check company, also known as a special-purpose acquisition company, or SPAC.<\/p>\n

His first SPAC, Social Capital Hedosophia Holdings Corp. I, took Richard Branson\u2019s Virgin Galactic public in October 2019 after a $2.3 billion merger, and he announced in September that his second SPAC has reached a $4.8 billion merger agreement with real estate startup OpenDoor.<\/p>\n

SPACs are essentially pools of money that are listed on the market to attract investors for a merger with private company. Once that deal is complete, the acquired company goes public using the SPACs ticker symbol, subverting the fees and headaches of a traditional IPO.<\/p>\n

According to SPACInsider, SPAC activity has more than doubled between 2019 and 2020, creating a more than $50 billion market that has attracted everyone from Bill Ackman to Alex Rodriguez and Jennifer Lopez.<\/p>\n

But Palihapitiya, who made his name as an outspoke tech venture capitalist, is the current undisputed king of SPACs and appears very committed to doing more.<\/p>\n

His first three SPACs have the respective ticker symbols of IPOA, IPOAB and IPOC. Palihapitiya has reserved every ticker through IPOZ.\n <\/p><\/div>\n

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For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Clover Health set to go public through blank-check company” Clover Health, a Medicare-focused insurance startup based in Jersey City, NJ, said Tuesday it will go public after merging with the latest blank-check company from Silicon Valley investor Chamath Palihapitiya. Clover, which has more than 57,000 members in seven states, will be valued at $3.7 billion….<\/p>\n","protected":false},"author":1,"featured_media":83037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/GettyImages-615649324.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74487,74572,70610,73014,70584,71359,70360],"class_list":["post-83036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-6-20","tag-biotech","tag-finance","tag-health-care","tag-mergers-acquisitions","tag-spac","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/83036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=83036"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/83036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/83037"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=83036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=83036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=83036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}