Open Door IPOB Stock Analysis vs Zillow & Redfin Stock is it a Buy Sell? Social Capital Hedosophia
Nukem Finance Nukem Finance
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 Published On Sep 18, 2020

Open Door IPOB Stock Analysis vs Zillow & Redfin Stock is it a Buy or Sell?
Opendoor has reinvented how people buy and sell a home with its simple, digital and on-demand experience
The transaction will enable Opendoor to continue to invest in growth, market expansion and new products that will accelerate Opendoor’s plan to become a digital one-stop shop for homeowners
The transaction values Opendoor at an enterprise value of $4.8 billion, and is expected to provide up to $1.0 billion in cash proceeds, including a fully committed PIPE of $600 million and up to $414 million of cash held in the trust account of Social Capital Hedosophia Holdings Corp. II (“SCH”)
Insiders are making a significant commitment of $200 million of the $600 million PIPE. This $200 million commitment includes $100 million from Chamath Palihapitiya, Founder and CEO of SCH, $58 million from Hedosophia, with the remainder invested by existing Opendoor shareholders, Access Industries and Lennar, along with Opendoor management
Top-tier institutional investors anchoring the remaining $400 million of PIPE investments include funds and accounts managed by BlackRock and Healthcare of Ontario Pension Plan (HOOPP)
100 percent of cash proceeds will be retained by Opendoor, with existing shareholders of Opendoor rolling 100 percent of their equity into the combined company #opendoor #opendoorstock #ipob

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