LONDON, Jan. 12, 2021 /PRNewswire/ -- SVF Investment
Corp. (Nasdaq: SVFAU) (the "Company") announced today the closing
of its initial public offering of 60,375,000 units, including
7,875,000 units issued pursuant to the full exercise of
underwriters' over-allotment option, at a price to the public of
$10.00 per unit, resulting in gross
proceeds of $603,750,000.
The Company's units began trading on The Nasdaq Capital Market
("Nasdaq") on January 8, 2021, under
the ticker symbol "SVFAU." Each unit consists of one Class A
ordinary share, and one-fifth of one warrant to purchase one Class
A ordinary share, for $10.00 per
unit. In addition, an affiliate of the sponsor, entered into a
forward purchase agreement that provides for the purchase of up to
$300,000,000 forward purchase units,
each consisting of one Class A ordinary share, or a forward
purchase share, and one-fifth of one warrant to purchase one Class
A ordinary share, or a forward purchase warrant, for $10.00 per unit, in a private placement to be
closed substantially concurrently with the closing of the Company's
initial business combination. When the securities comprising the
units begin separate trading, the Company expects that the Class A
ordinary shares and warrants will be listed on Nasdaq under the
symbols "SVFA" and "SVFAW," respectively.
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 Rajeev Misra, the CEO of SBIA, and Navneet Govil, the CFO of SBIA.
Registration statements relating to these securities were
declared effective by the Securities and Exchange Commission
("SEC") on January 7, 2021. 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; 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; and Cantor Fitzgerald & Co.,
Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email:
prospectus@cantor.com.
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.
SVF Investment Corp. 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
$100 billion in many of the world's
leading technology companies, including those we've helped take
public such as 10X Genomics, Beike, DoorDash, Guardant Health,
OneConnect, Opendoor, PingAn Good
Doctor, Relay Therapeutics, Seer, Slack, Uber, View, Vir,
and ZhongAn Insurance. SBIA's global reach, unparalleled ecosystem,
and patient capital help founders build transformative
businesses.
Contacts
Media contact:
SoftBank Investment Advisers
Rowan Brown: rowan@softbank.com
Investor Relations: svfinvestmentcorp@softbank.com