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Alphabet-backed Clover Health to list via $3.7 bln blank-check deal

Oct 6 (Reuters) - Insurance startup Clover Health will go public through a merger with blank-check firm Social Capital Hedosophia Holdings Corp III in a deal valued at $3.7 billion including debt, the company said on Tuesday.

The combined cash-and-stock deal includes a $100 million investment from venture capitalist Chamath Palihapitiya and $50 million from Hedosophia.

Clover’s investors include Alphabet Inc and Sequoia Capital.

Social Capital Hedosophia Holdings is a partnership between the investment firms of Social Capital and Hedosophia. (Reporting by Ambar Warrick and Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila)

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