Clover will go public via a merger with Social Capital Hedosophia Holdings Corp. III, a special purpose acquisition company.
public last year and has been particularly active in the SPAC world in 2020. Palihapitiya previously revealed he has reserved tickers from "IPOA" through "IPOZ" on the New York Stock Exchange.
A SPAC is formed to raise funds to finance a merger or acquisition within two years typically. The target firm will be taken public through the acquisition.
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