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SoftBank aims to raise $525m with Spac IPO

December 23, 2020

The firm says it is planning to use the funds for an investment in a technology company.

The Spac will be overseen by SoftBank Investment Advisers, which also runs the Vision Fund.

It will be used to buy a company SoftBank hasn’t previously invested in, according to Bloomberg.

Goldman Sachs Group and Citigroup are managing the deal, Axios reports.

The company’s securities filing notes: “Our Spac will bridge SoftBank’s private and public investing strategies by enabling us to partner with a fast-growing, IPO-ready technology company. We believe that we have access to a wide range of compelling investment opportunities through our broad international presence and deep local networks.”

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