SoftBank files for two more SPACs seeking to raise $630m

Photographer: Kiyoshi Ota/Bloomberg

SoftBank Group Corp. plans to raise as much as $630 million through two more blank-check companies, capitalizing on record investor demand for the vehicles.

The Tokyo-based technology conglomerate said it would create the special purpose acquisition companies less than two months after it filed to create a $525 million blank-check company. SPACs look to merge with private companies, letting them become publicly traded while avoiding some of the uncertainty of an initial public offering.

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