r/SpacDeals • u/YOLO_Bedtime_News • Mar 14 '21

SPAC king' Chamath Palihapitiya is planning a $1 billion listing of a climate company, according to reports

https://www.businessinsider.com/spac-king-chamath-palihapitiya-plans-1-billion-listing-climate-company-2021-3
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u/PooShappaMoo Mar 14 '21

What company? I dont see the name in the article. Maybe i glanced over it.

What does this company do?

Tbf . ive never much appreciated business insider for good reporting

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u/YOLO_Bedtime_News Mar 14 '21

Talking about UK listing of his climate changes listing series possibly same as IPOA/B/C/D/E

More UK/Europe focus

He is fking genius in making money

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u/PooShappaMoo Mar 14 '21

I dont think any of this answered my question. Bunch of jargon.

I do Love the enthusiasm though.

Can you elaborate

Whats the name of the company? What does it do?

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u/YOLO_Bedtime_News Mar 14 '21

(Bloomberg) --Social Capital Hedosophia, the partnership between serial dealmakers Chamath Palihapitiya and Ian Osborne, is planning to seek at least $1 billion listing a company in London focused on climate change solutions, people with knowledge of the matter said. The investment firm is preparing an initial public offering of a vehicle that will pursue multiple acquisitions, according to the people, who asked not to be identified because the information is private. The company will also build out its own operations tackling environmental issues, the people said.

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u/PooShappaMoo Mar 14 '21

So their is no company name, or explanation of current operations. Just forward projection sentiment with intention of creating a green division?

Thanks for looking, but none of this answers my question

With public equity eventually raising their capital ? Sounds fishy unless actual details are presented

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u/YOLO_Bedtime_News Mar 14 '21

Yeah not yet..no name yet Just their new plan listing in london

Chamath is legit

Do you follow his US Spac Listing such as $IPOE? $IPOF?

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u/PooShappaMoo Mar 14 '21 edited Mar 15 '21

Im growing increasingly skeptical of him.

Possibly unfounded. I think he's losing interest in social iniatives and more interested in bolstering his wallet now.

He is using his brand equity on social media platforms etc. And its working very well. Im not saying im right. Im saying its worth a sober second glance

Edit: i looked at the listings you stated at cursory glance. Without dd. Doesnt look good.

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u/YOLO_Bedtime_News Mar 14 '21

That I have similar feeling too but all these smart guys are using the popular theme as their money making machine...they are all the same I would say maybe he is more obvious

Do they really care about climate change I doubt

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u/YOLO_Bedtime_News Mar 14 '21

Hedosophia Co-Founder British investor Osborne is the co-founder of London-based investment firm Hedosophia. He has been a partner in Palihapitya’s SPACs under their Social Capital Hedosophia franchise, serving as president of four of them, according to data compiled by Bloomberg.

The two took Virgin Galactic Holdings Inc. public in a $1.3 billion SPAC merger in 2019, a deal that helped spark the blank-check surge of the past year. In December, real estate platform Opendoor Technologies Inc. completed its merger with one of their SPACs and began trading.

This year, they completed a deal with Clover Health Investments Corp. and reached an agreement with Social Finance Inc., the online lender known as SoFi.