Skip to content
Subscriber Only

Clover Health In Talks to Go Public Via Social Capital III

  • Deal values the health-insurance startup at $3.7 billion
  • ‘We need companies like Clover,’ Social Capital III CEO says
Updated on

Clover Health Investments Corp., an insurance startup backed by Alphabet Inc. and Sequoia, agreed to go public through a merger with Social Capital Hedosophia Holdings Corp. III, the latest in a wave of deals with blank-check companies to list shares on exchanges.

The deal values Clover at $3.7 billion, including debt, according to a statement Tuesday, confirming an earlier Bloomberg report. Clover will receive as much as $728 million, and $500 million more will be allocated to other Clover investors, the companies said.