Prolific SPAC investor Chamath Palihapitiya is winding down two of his blank-check firms after failing to find suitable merger targets within deadline, as choppy markets dampen investor sentiment for the once high-flying acquisition vehicles.
Social Capital Hedosophia Holdings Corp. IV and Social Capital Hedosophia Holdings Corp. VI will return the funds raised to shareholders, Palihapitiya said in a blog post on Tuesday.
