- Bloomberg reported on Thursday that social capital Hidosophia Holdings Corp. II, the “blank check” is being discussed in public by Openandur in conjunction with the company or SPAC, Bloomberg reported on Thursday.
- Opendur is a property technology company that buys homes directly from sellers, makes some improvements to homes, and then resells them.
- While the deal has not yet been finalized and the deal could fall apart, Bloomberg said investors are bidding for shares of SPAC as much as 1% higher in Friday’s trading.
- Visit Business Insider’s homepage for more stories.
Social Capital is a “blank check” company, or an SPAC, that has been looking to acquire a technology company since it started trading in April. SPAC is headed by billionaire investor Chamath Palihapitiya.
This SPAC of Palihapitiya is not the first rudio in the world. His first foray was in 2019 when the space research company Virgin Galactic Palihapitiya led SPAC. Was revealed by a merger with.
Opendur runs a business, much like Zilo’s relatively new homebuying program. The San Francisco-based firm buys homes directly from sellers, makes general repairs to homes and then resells them for a profit.
Some of the benefits a home-seller receives include lower home sales fees and increased flexibility around move-outs and closing dates, according to its website.
In its most recent round of funding in 2019, Opendur was valued at 3. 3.8 billion. According to Bloomberg, the end billion dollars in deals with social capital will be the end of Pandur.
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Given its exposure to the housing industry, a potential deal with Opendur could be a good time. The recent months since the start of the COVID-19 epidemic have seen a boom in business in the housing industry, as city dwellers flee the suburbs after months of investment orders.
The deal is expected to be unveiled next week, Bloomberg said. Social Capital Hedosophia Holdings Corp. Shares of II rose as much as 7% in Friday’s trading.
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