SoftBank Results Presentation Deck
SPACs Controlled by SBG's Subsidiaries
A Special Purpose Acquisition Company ("SPAC") is an investment vehicle formed for the purpose
of effecting business combination with an existing operating company.
ā
A subsidiary of SBG, as a sponsor, establishes a SPAC with a small amount of capital. The SPAC issues founder shares
and warrants designed to allow the sponsor to own up to 20% of the equity of the merged entity. (The sponsor can
acquire up to 20% of interests in the merged entity with a small investment.)
(1) Executes an IPO to raise capital for business combination; starts seeking a target company for the merger
(2) Identifies a target company for the merger (within 19 months from the date of the IPO)
(3) Completes the merger (De-SPAC) (within 24 months from the date of the IPO)
An existing operating company can effectively go public in a shorter period of time compared to traditional IPOs.
As of March 31, 2021
SB Investment Advisers (UK) ("SBIA")
Investment fund business in
Latin America
Fortress
Total
(1) Post-IPO/start
selection of a target
company for a merger
3 companies
SoftBank
1 company
3 companies
7 companies
(2) Identification of
a target company
for a merger
1 company
1 company
SPAC: Consolidated as a subsidiary
Group
(3) Completion of
a merger (De-SPAC)
1 company
1 company
SPAC after De-SPAC: Excluded
from the scope of consolidation
Accounting 18View entire presentation