SoftBank's Vision Fund jumped into the special purpose acquisition company boom during the pandemic, but it's had mixed success with the investment vehicle.
into the special purpose acquisition company boom during the pandemic, but it's had mixed success with the investment vehicle.On Friday, SoftBank liquidated its first SPAC after failing to merge with a target before its Jan. 12 deadline.The Japanese investment giant has been able to merge one of its three SPACs — SVF Investment Corp. 3.
After announcing the deal in December 2021, the SPAC's merger with warehouse robotics company Symbotic closed in June of last year. The company is currently trading at over $15 a share after beating quarterly revenue expecations earlier this week. Its other SPAC has yet to announce any prospective merger, and the deadline of March 23 is fast approaching.Beyond its three SPAC vehicles, a number of SoftBank Vision Fund portfolio companies have gone public via this route, and some have been marred with problems.with financing and was nearly delisted by the New York Stock Exchange for failing to file certain financial statements.Go deeper:
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