The SVF Investment Corp (NASDAQ: SVFA) stock had a bit of a correction recently and currently, it is in the middle of a phase of consolidation. A stock in such a mode can often breakout and hence, investors could consider keeping SVF in their sights at this point.
Last week it emerged that SoftBank had decided to reduce the offered size for the company’s stock. SVF is a SPAC or a special purpose acquisition company and the offered size has now been reduced by as low as 20% to $320 million from $400 million.
In addition to that, SoftBank also decided to change the terms of the offering. The SVF offering is only going to consist of shares and now both shares as well as warrants, which is the case with most SPAC offerings. No explanation was provided by SoftBank with regards to its decision to only offer 28 million shares in SVF instead of the previously announced 35 million shares.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.