SVF Investment Corp., a special purpose acquisition company affiliated with SoftBank Group Corp., won’t complete a business combination and will return cash to stockholders.
SVF expects public shares will cease trading on the Nasdaq Capital Market as of the close of business Jan. 26.
Many SPACs have chosen to shut down in recent months, including several backed by prominent investors such as Gores Group, Lazard Ltd. and the SoftBank-owned Fortress Investment Group.
SVF Investment Corp. 2 went public in March 2021. SVF Investment Corp. 3 merged with automation techology company Symbotic LLC in June 2022, forming Symbotic Inc.