Social Capital Hedosophia Holdings III, the third blank check company formed by Social Capital and Hedosophia targeting a non-US tech business, raised $720 million by offering 72 million units at $10 to command a market value of $870 million. The company originally planned to offer 60 million units. Each unit consists of one share of common stock and one-third of a warrant exercisable at $11.50. The company revised its terms last month, originally planning to offer units consisting of one share of stock and one-quarter of a warrant.

Social Capital Hedosophia Holdings III plans to list on the NYSE under the symbol IPOC.U. Credit Suisse acted as a lead manager on the deal.

The article International tech-focused SPAC Social Hedosophia III prices upsized $720 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.