NASHVILLE, Tenn., Nov. 25, 2020 /PRNewswire/ -- Clover Health
Investments, Corp., an innovative technology company improving
health outcomes for America's seniors, today announced it has
released the full recording of the company's analyst day
presentation which was held on Friday,
November 20, 2020.
In October, Social Capital Hedosophia Holdings Corp. III (NYSE:
IPOC) a special purpose acquisition company, announced a business
combination to bring Clover Health to the public markets. Today
Clover Health also announced that Social Capital has applied to
list the newly combined company's Class A common stock on the
Nasdaq Global Select Market following the closing under the
proposed ticker symbol, CLOV.
To learn more about the transaction, visit Clover Health's
investor page at: www.cloverhealth.com/investors
About Clover Health
Clover Health is a healthcare
technology company with a deeply-rooted mission of helping its
members live their healthiest lives. Clover uses its proprietary
technology platform to collect, structure, and analyze health and
behavioral data to improve medical outcomes and lower costs for
patients. As a company whose business goals fully align with its
members' health needs, Clover works with members and their doctors
to become a valued partner. This trust is built by proactively
identifying at-risk individuals and teaming up with physicians to
accelerate care coordination and simultaneously improve health
outcomes and reduce avoidable costs. Clover has offices in
San Francisco, Jersey City, Nashville, and Hong
Kong. For more information,
visit www.CloverHealth.com.
IMPORTANT LEGAL INFORMATION
Cautionary Statement Regarding Forward-Looking
Statements
This document contains certain forward-looking
statements within the meaning of the federal securities laws with
respect to the proposed transaction between Clover Health
Investments, Corp. ("Clover") and Social Capital Hedosophia
Holdings Corp. III ("SCH"). These forward-looking statements
generally are identified by the words "believe," "project,"
"expect," "anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," "will be,"
"will continue," "will likely result," and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
document, including but not limited to: (i) the risk that the
transaction may not be completed in a timely manner or at all,
which may adversely affect the price of SCH's securities, (ii) the
risk that the transaction may not be completed by SCH's business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by SCH,
(iii) the failure to satisfy the conditions to the consummation of
the transaction, including the adoption of the Agreement and Plan
of Merger (the "Merger Agreement"), dated as of October 5, 2020, by and among SCH, Asclepius
Merger Sub Inc. and Clover, by the shareholders of SCH, the
satisfaction of the minimum trust account amount following
redemptions by SCH's public shareholders and the receipt of certain
governmental and regulatory approvals, (iv) the lack of a third
party valuation in determining whether or not to pursue the
proposed transaction, (v) the inability to complete the PIPE
investment in connection with the transaction, (vi) the occurrence
of any event, change or other circumstance that could give rise to
the termination of the Merger Agreement, (vii) the effect of the
announcement or pendency of the transaction on Clover's business
relationships, operating results and business generally, (viii)
risks that the proposed transaction disrupts current plans and
operations of Clover and potential difficulties in Clover employee
retention as a result of the transaction, (ix) the outcome of any
legal proceedings that may be instituted against Clover or against
SCH related to the Merger Agreement or the transaction, (x) the
ability to maintain the listing of SCH's securities on a national
securities exchange, (xi) the price of SCH's securities may be
volatile due to a variety of factors, including changes in the
competitive and highly regulated industries in which SCH plans to
operate or Clover operates, variations in operating performance
across competitors, changes in laws and regulations affecting SCH's
or Clover's business and changes in the combined capital structure,
(xii) the ability to implement business plans, forecasts, and other
expectations after the completion of the proposed transaction, and
identify and realize additional opportunities, and (xiii) the risk
of downturns and a changing regulatory landscape in the highly
competitive healthcare industry. The foregoing list of factors is
not exhaustive. You should carefully consider the foregoing factors
and the other risks and uncertainties described in the "Risk
Factors" section of SCH's registration on Form S-1 (File No.
333-236776), the registration statement on Form S-4 discussed below
and other documents filed by SCH from time to time with the U.S.
Securities and Exchange Commission (the "SEC"). These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Clover and SCH assume no obligation and do not intend to update
or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise. Neither Clover nor
SCH gives any assurance that either Clover or SCH or the combined
company will achieve its expectations.
Additional Information and Where to Find It
This
document relates to a proposed transaction between Clover and SCH.
This document does not constitute an offer to sell or exchange, or
the solicitation of an offer to buy or exchange, any securities,
nor shall there be any sale of securities in any jurisdiction in
which such offer, sale or exchange would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. In connection with the proposed transaction, SCH
filed a registration statement on Form S-4 with the SEC on
October 20, 2020, as amended by
Amendment No. 1 to the registration statement on Form S-4 filed
with the SEC on November 20, 2020.
SCH also will file other documents regarding the proposed
transaction with the SEC. Before making any voting decision,
investors and security holders of SCH are urged to read the
registration statement, the proxy statement/prospectus included
therein and all other relevant documents filed or that will be
filed with the SEC in connection with the proposed transaction as
they become available because they will contain important
information about the proposed transaction.
Investors and security holders may obtain free copies of the
registration statement, the proxy statement/prospectus and all
other relevant documents filed or that will be filed with the SEC
by SCH through the website maintained by the SEC at
www.sec.gov.
The documents filed by SCH with the SEC also may be obtained
free of charge at SCH's website at
http://www.socialcapitalhedosophiaholdings.com/docsc.html or upon
written request to 317 University Ave, Suite 200, Palo Alto, California 94301.
Participants in Solicitation
SCH and Clover and their
respective directors and executive officers may be deemed to be
participants in the solicitation of proxies from SCH's shareholders
in connection with the proposed transaction. Additional information
regarding the interests of those persons and other persons who may
be deemed participants in the proposed transaction may be obtained
by reading the proxy statement/prospectus regarding the proposed
transaction. You may obtain a free copy of these documents as
described in the preceding paragraph.
Contacts:
Media
Andy
Robinson
+1.718. 915.1519
press@cloverhealth.com
Investors
Whitney
Kukulka
The Blueshirt Group
investors@cloverhealth.com
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SOURCE Clover Health