Deals
Social Capital to Raise $720 Million in Upsized IPO
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The parent of a blank-check company that helped Virgin Galactic Holdings Inc. go public has increased the size of a new U.S. initial public offering to raise $720 million, according to people with knowledge of the matter.
Social Capital Hedosophia Holdings Corp. III is expected to begin trading Wednesday on the New York Stock Exchange, according to deal terms reviewed by Bloomberg. It had earlier planned to raise $600 million selling 60 million units to acquire targets in the technology sector, according to filings.