The GV-backed health insurance provider has agreed to merge with a special purpose acquisition company in a deal that will value it at $3.7bn.
Clover Health, the US-based health insurer that counts internet technology conglomerate Alphabet as an investor, agreed yesterday to a reverse merger with a special purpose acquisition company.
The transaction will involve Clover taking the New York Stock Exchange listing secured by Social Capital Hedosophia Holdings Corp III (SCH) when it floated in April this year in a $720m initial public offering.
The deal is set to value Clover at $3.7bn and provide it with about $1.2bn in proceeds, including $828m…
