Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference on November 6, 2019 in Tokyo, Japan.SoftBank Group filed to launch a special purpose acquisition company on Monday, saying it planned to raise $525 million for an investment in a technology company.
The Japanese investment giant is the latest big name to jump on the wave of so-called blank-check companies, which involve an investment vehicle entering the public markets and then using the money raised to merge with a private company. "Our SPAC will bridge SoftBank's private and public investing strategies by enabling us to partner with a fast-growing, IPO-ready technology company. We believe that we have access to a wide range of compelling investment opportunities through our broad international presence and deep local networks," the company said in aSPACs have seen a surge of interest in 2020 and involvement from high-profile investors, including hedge fund manager Bill Ackman.
The company has also been a controversial player in the public markets this year, with reports that SoftBank was the "