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Opendoor Going Public With $4.8B Price Tag

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Click to view a price quote on XLE. : Opendoor is going public through a merger with blank check company Social Capital Hedosophia Holdings Corp. II in a deal that will give the residential real estate startup an enterprise value of $4.8 billion The deal will provide as much as $1 billion in cash, including up to $414 million held by Social Capital II, a special purpose acquisition company, or SPAC, which is headed by Chairman Chamath Palihapitiya. In addition, Palihapitiya and funds managed by BlackRock agreed to put in another $600 million through a PIPE, or a private investment in public equity.

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