Social Capital Hedosophia Holdings Corp V (IPOE)

Mod needs to update the quote from IPOE to SOFI and the thread title.

https://seekingalpha.com/news/3702108-sofi-gets-outperform-rating-at-oppenheimer-on-revenue-ebitda-opportunity?utm_source=otcmarkets&utm_medium=referral

Maybe someone can post Oppenheimer report just issued and the Goldman report when it gets issued.

SOFI had a great first day of trading! Going to be a big gainer long-term.

Mods. Please request ticker change.

Look up the SEC filings yourself. It’s also in media stories. This time next week IPOE will be SOFI.

Noto's Bio-SOFI is in good hands

Career
Goldman Sachs and NFL
Noto joined Goldman Sachs in 1999 and was voted the top analyst by Institutional Investor magazine for research on the Internet industry.[4] Noto led the firm’s communications, media and entertainment research team at Goldman Sachs, and provided strategic direction and resource allocation for the group. He became a managing director in 2003, and a partner in 2004.[5]

On 24 February 2008, Noto took over the job of CFO for the National Football League, a position left vacant since former CFO, Barbara Kaczynski, left in February 2003.[4] Noto held the position until October 2010, but left just prior to the negotiations which led up to the 2011 lockout. He returned to Goldman Sachs in October 2010 as the co-head of Goldman’s global media group.[6] In 2013, Noto helped Goldman score one of the "biggest tech prizes around" when the company won the role of lead underwriter for Twitter's initial public offering.[7] Noto would work as the main banker dealing with Twitter.[8]

Coatue and Twitter
In May 2014, Noto announced that he would be leaving Goldman Sachs to join the New York-based hedge fund Coatue Management LLC.[9] However, on 1 July 2014, Twitter CEO Dick Costolo announced that Noto would join Twitter as the company's CFO.[10] The two men built a good relationship the previous year when Noto managed Twitter's account while at Goldman Sachs.[8] In 2014, Noto received total compensation of $73 million.[11]

SoFi
On January 20, 2018, it was confirmed that Noto was leaving Twitter to become the CEO of SoFi (Social Finance, Inc.).[12][13]

SoFi is doing a reverse merger with IPOE, expected to close at the end of this week with the stock trading as SOFI June 1st.

Well, eventually I do expect SOFI to be trading above $100 like a lot of other FinTech firms are trading nowadays. SOFI has the growth ahead to make the move to the triple digits. So, yes to the moon! Buy and hold.

ok. and to the moon is what PPS? lol

Makes sense!

CNBC Fast Money’s Dan Nathan mentioned Amazon as a potential suitor of SoFi. Said it would be a good acquisition for Amazon to expand into FinTech.

FinTech analyst will jump on this. 2021 est Revenue 980M from the company presentation. Robinhood IPO will also send this to the moon.

https://www.sofi.com/invest/buy-cryptocurrency/

Which gambling casino analysts will be first to pick up SOFI investment researchcoverage? Goldman where founder worked? Morgan Stanley who wants their business? Merrill because they have a lot of overlapping customers? Citi or JPMorgan because they could be natural acquirers of SOFI in 2022?

IPOE start of a major run! SOFI coming soon!

SoFi announcement this morning about commencing trading on Nasdaq June 1st.

SoFi added 15 more cryptocurrencies today! More growth!

Here we go! SoFi to start trading June 1st!

HUGE UPDATE:

“$IPOE & @SoFi update: The S-4 SPAC merger is now effective with the SEC. We will start emailing & mailing proxy statements to shareholders of $IPOE (as of 4/29) to vote ahead of the shareholder meeting on 5/27. We intend to close the deal on 5/28 & start trading as $SOFI on 6/1.”

$IPOE & @SoFi update: The S-4 SPAC merger is now effective with the SEC. We will start emailing & mailing proxy statements to shareholders of $IPOE (as of 4/29) to vote ahead of the shareholder meeting on 5/27. We intend to close the deal on 5/28 & start trading as $SOFI on 6/1.— SoFi Investor Relations (@SoFiIR) May 7, 2021

Merger proxies going out now according to SoFi customer service on Twitter today! Let’s go!

If your read the Amendment filing closely you will not they Board has changed with troublesome Director Chen gone with his conflicts on SOFI share allocations he controlled.

The three lawsuits disclosed questioning merger terms and the warrant accounting issues would seem to push the merger back until there are some settlements or court case resolved???

IPOE filed an updated S-4 today to deal with the warrants situation.

Sure.
In Re: RenRen is a shareholders derivative lawsuit. The case involves shares of SoFi stock that were taken into a controlled spinoff by Joseph Chen, the CEO of RENN and a Director of SoFi. The lawsuit alleges he did this in away that benefitted him, and injured the other shareholders. A motion to dismiss was defeated, and that decision upheld on appeal. The court has now ordered that no further shares of SoFi be disposed of by the Chen-controlled entity.

Since Chen is a SoFi board member, and the lawsuit alleges wrongdoing by Chen, it would have to be disclosed in any future filings by IPOE or SoFi relating to the merger. Either that, or Chen would have to give up his board seat.

Since he likely doesn't want to do that, a settlement is the easiest way to get rid of this messy matter, and keep it out of any required filings. Chalmath certainly doesn't want a filing with a paragraph about a SoFi board member involved in a shareholders derivative lawsuit.

Since Chen owns over 25% of RENN, a settlement won't really cost him whatever he settles for, since 25% of the settlement comes right back to him in his shares.

When this lawsuit is settled, I'd expect RENN shares to get a windfall of between $10 - $20 a share.

Then this is a great buying opportunity because SoFi is a great company with a lot of growth ahead. Buy snd hold.

Chamath is the reason ipoe is down. It’s lumped in with clov

There are a lot of crapy SPAC mergers out there, but IPOE/SoFi is not one of them. Buy IPOE and hold long-term. This company will do quite well.

Can you please elaborate re why this case would delay the SoFi merger?

Merger close 2nd quarter, by end of June, perhaps sooner. Right now the SEC is holding up SPAC merger approvals until the warrant question has been resolved.

SoFi is really impressive regarding how many products they are providing, including access to IPOs to ordinary investors before they go public. This has powerhouse written all over it. Long term hold!

Won’t SoFi become a national bank soon? Provisional approval was granted late last year.

You might want to look at what's happening in the In Re RenRen shareholders derivative lawsuit, for clues on when the SoFi SPAC will close. RENN is the symbol.

RENN CEO is Joseph Chen, also on the board of SoFi, and his shares of SoFi are tied up by the derivative lawsuit.

All the docs in the lawsuit are on NY Supreme Court website. Court just entered a show cause order yesterday, for a hearing on May 14. Case 653594/2018:
http://www.nycourts.gov/courts/nyc/supreme/#:~:text=The%20Supreme%20Court%20is%20the%20trial%20court%20of,civil%20jurisdiction%20and%20jurisdiction%20%20over%20felony%20charges.


More info on the RENN ihub board.

When should merger close?

IPOE, Sofi, I see similarities to UPST($147), but better. Imo

Excellent interview about their new IPO access for clients with Tony Noto on CNBC PRO this afternoon.

This is why you hold strong go IPOE $$$

https://www.griproom.com/fun/10-signs-your-stock-is-being-manipulated

IPOE's SEC amendment was filed on February 15th. Usually, the SEC approves amendments within 2 weeks. So, this week the SoFi merger could be given SEC approval. With a favorable market, IPOE will likely rally back to $25.

Finviz.com

IPOE is probably rising bc President Biden said he won’t issue an EO to cancel student loans.

Source for 70% claim?

70% short int squeeze on IPOE. Time to get WSB's attention on this one.

All I know is that SoFi has blockbuster potential in coming years. Yes, there’s a trade here with the imminent merger, if the markets don’t collapse. However, longer run, like years, this could be one of those big runner stocks that reward people that average in now, because their customer base and revenue are likely to grow a lot in coming years.

I am saying that if you are going to be an investor you should know how to lookup basic information about a stock you are interested in!

IMO. I thought I missed the boat ($30-35 price target), but when it drew back, I jumped on board because the s-4 had been filed so long ago. (On a different note, look at the chart and notice the huge bump on January 7th. Four days before the s-4 filing. How did that happen? Did they tweet their intention of filing?)
Some people are saying investors are dumping their shares, but the volume is telling me conservative hands are selling to reduce risk/take profit off the table. I'd say expected and normal due to the news and not the scary dumping of obviously bad news, but rather measured position management.
I love this "dumping" because IF the proxy hits our emails unexpectedly there will be a slingshot effect as people race to regain their positions. FOMO takes over and we'll reap the rewards. Yeehaw!!!

Thanks for the info on the S-4 filing. I didn't realize IPOE/SoFi was that far along. I guess I'll load up next week. This stock looks like a winner going forward. Shouldn't sell-off after the merger unless the whole market tanks.

Please correct me if I'm wrong, as I am still learning the SPAC process.
The S-4 was filed on January 11. This is the securities filing for the new (merged) company. The SEC has 10 days to accept the filing or notify the filer of their intent to review the filing. The SEC's average review is 30 calendar days from the date of filing. They will then ask the filer to clearify any issues they found. This back and forth may take awhile. If the SEC review finds no issue then IPOE will, asap, send out the proxies and ask shareholders to vote. This is usually a 10 day process.
It has been 25 days since the S-4 has been filed. It's possible, maybe even likely, we receive the proxy within two weeks.

Merger either Q1 or Q2 2021. It may be several more months. But, in the long run, big growth ahead and boom times for the stock.

So you don't know is what you're saying

I jumped in with both feet today. Is this going to merge soon? lol Yes, it is! Good luck everyone.

IPOE is going to be a monster mover within a year or two as revs and earnings ramp up!

$ipoe taking Robinhood clients, who are seeking a safe place to trade. Huge