Clover Health Investments, Corp. an innovative technology company improving health outcomes for America’s seniors, and Social Capital Hedosophia Holdings Corp. III (NYSE: IPOC) (“SCH”), a publicly traded special purpose acquisition company, completed their previously announced business combination to form one of the nation’s fastest growing publicly-traded Medicare Advantage insurers. The newly formed company is named Clover Health Investments, Corp. (“Clover Health” or the “Company”) and its shares of Class A common stock and warrants will start trading on The Nasdaq Global Select Market (“Nasdaq”) under the new ticker symbols “CLOV” and “CLOVW,” respectively.
The business combination, which has an enterprise value of approximately $3.7 billion, will provide significant capital for the Company to scale and improve health outcomes for seniors across the United States. SCH shareholders approved the transaction at an extraordinary general meeting on January 6, 2021.
“Today marks an important milestone in Clover Health’s mission to improve every life by enabling improved clinical decision making and achieving affordability in healthcare in the U.S.,” said Vivek Garipalli, CEO and Co-Founder of Clover Health. “As a public company, we will continue to pioneer a fundamentally different approach in the Medicare Advantage and Medicare space – investing in technology and partnering closely with physicians to help them make critical decisions for their patients at the point of care – with an overarching commitment to creating value for all stakeholders.”
Chamath Palihapitiya, CEO and Founder of SCH, said: “On behalf of the SCH team, I am thrilled to announce the closing of this transaction and bring Clover Health to the public markets. Vivek, Andrew and their team have created a next-generation Medicare Advantage company that combines wide access to healthcare with a technology-enabled operating model. We are confident that Clover Health will continue to empower physicians to deliver better care and better outcomes for all its members and look forward to partnering with them in this next stage of growth.”
Clover’s management team, led by CEO and Co-Founder Vivek Garipalli and President and Co-Founder Andrew Toy, will continue to lead the newly formed company. Chamath Palihapitiya, Founder and CEO of SCH, will act as a senior advisor to the Company’s management.
Trading is expected to begin on the Nasdaq on January 8, 2021, under the new ticker symbol “CLOV” for Clover Health Class A common stock and “CLOVW” for the Clover Health warrants.
Connaught acted as financial advisor, Credit Suisse acted as placement agent and capital markets advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to SCH. Citigroup acted as financial advisor, placement agent and capital markets advisor. J.P. Morgan acted as financial advisor and capital markets advisor. Jefferies LLC also acted as financial advisor. Blueshirt Capital Advisors acted as capital markets advisor and Orrick, Herrington & Sutcliffe LLP acted as legal advisor to Clover.
IPOC shares had a relatively better volume day versus average trading capacity of 0 shares, but with an 6.69M float and a 46.44% run over a month, it’s definitely worthy for investors
Social Capital Hedosophia Holdings Corp. III (NYSE:IPOC) belongs to Financial sector and Shell Companies industry. The company’s Market capitalization is $1.33B with the total Outstanding Shares of 82.80M. IPOC‘s stock construct a change of 0.00% in a total of its share price and finished its trading at 16.02.
After a stumble in the market that brought IPOC to its low price for the period of the last 52 weeks, Social Capital Hedosophia Holdings Corp. III was unable to take a rebound, for now settling with 62.31% of loss for the given period.
Social Capital Hedosophia Holdings Corp. III (NYSE:IPOC): Having a glance at past record, we’re going to look at various forwards or backwards shifting developments regarding IPOC. The firm’s shares rose 0.13% in the past five business days. In the previous quarter, the stock rose 49.72% at some point. The output of the stock increased 45.77% within the six-month closing period, while general annual output gained 0. The company’s performance is now negative at -4.47% from the beginning of the calendar year.
Earnings per Share Details of Social Capital Hedosophia Holdings Corp. III
Let’s take a quick analysis at IPOC’s past reported and future predictions of growth using the EPS Growth. EPS growth is a percentage change in standardized earnings per share over the trailing-twelve-month period to the current year-end.
The company posted a value of $0 as earning-per-share over the last full year, while a chance, will post $0 for the coming year. In-depth, if we analyze for the long-term EPS Growth, the out-come was 0 for the past five years and the scenario is totally different as the prediction was 0 for the next five year.
P/S, P/E, P/C and P/B/ SMA50, SMA 200 of IPOC is described below
The price-to-sales is a valuation ratio that relates a company’s stock price to its revenues. The price-to-sales ratio is a symbol of the value placed on each dollar of a company’s sales or taxes. As of now, IPOC has a P/S, P/E and P/B values of 0, 0 and 0 respectively. P/E and P/B ratios both are used on a regular basis by the investor to measure the value of the company and to get the right amount of the share.
Its P/Cash valued at 0. The price-to-cash-flow ratio is a stock valuation indicator that measures the value of a stock’s price to its cash flow per share. Investors focus on the profitability proportions of the company that how the company performs at profitability side. Return on equity ratio or ROE is a significant indicator for prospective investors as they would like to see just how effectively a business is using their cash to produce net earnings.
Volatility Insights of IPOC
Watching some historical volatility numbers on shares of Social Capital Hedosophia Holdings Corp. III (IPOC) we can see that the 30 days volatility is presently 9.08%. The 7 days volatility is 13.34%. Following volatility data can help measure how much the stock price has fluctuated over the specified time period.
The company has a beta of Social Capital Hedosophia Holdings Corp. III 1.00 indicates that its price is correlated with the market. Less than 1.00 shows less volatility than the market. Beta greater than 1.00 indicates that the security’s price is theoretically more volatile than the market.
“IPOC” (Technical Considerations)
As a return on equity, Social Capital Hedosophia Holdings Corp. III (NYSE: IPOC) produces 0. Because it would be easy and highly flexible, ROI measurement is among the most popular investment ratios. Executives could use it to evaluate the levels of performance on acquisitions of capital equipment whereas investors can determine that how the stock investment is better.
The ROI entry for IPOC’s scenario is at 0. Another main metric of a profitability ratio is the return on assets ratio or ROA that analyses how effectively a business can handle its assets to generate earnings over duration of time. Social Capital Hedosophia Holdings Corp. III (IPOC) generated 0 ROA for the trading twelve-month.
What do you mean by simple moving average (SMA)?
Based on a recent bid, its distance from 20 days simple moving average is 17.22%, and it has a distance of 43.22% from the 200 days simple moving average.
The payout ratio shows the proportion of earnings paid out as dividends to shareholders, typically expressed as a percentage of the company’s earnings. It can also be expressed as dividends paid out as a proportion of cash flow. This is also known as the dividend payout ratio. IPOC’s payout ratio was 0 and Price to free cash flow remained $0.
Its quick ratio for most recent quarter was 0 along with current ratio for most recent quarter of 0. Total debt to equity ratio of the company for most recent quarter was 0 whereas long term debt to equity ratio for most recent quarter is 0.