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Opendoor Labs Inc. agreed to merge with blank check company Social Capital Hedosophia Holdings Corp. II in a transaction that values the residential real estate platform at $4.8 billion.
The publicly traded special acquisition company, or SPAC, is owned by private equity firms Social Capital and Hedosophia.
The deal is expected to generate as much as $1.0 billion in gross proceeds, including contributions of up to $414 million of cash...