SoftBank to File Its First SPAC on Monday, Axios Reports

© Bloomberg The SoftBank Corp. logo is displayed inside a store in Tokyo, Japan, on Tuesday, April 14, 2020. SoftBank Group forecast a record 1.35 trillion yen ($12.5 billion) operating loss for the fiscal year ended in March, a sign of how badly Masayoshi Son's bets on technology startups have been battered in recent months.

(Bloomberg) -- SoftBank will file to raise between $500 million and $600 million through a public offering of a special purpose acquisition company, Axios reported, citing multiple unidentified people familiar with the plans.

It would be the first SPAC for SoftBank. The company is also preparing at least two additional vehicles, Axios said.

Goldman Sachs Group Inc. and Citigroup Inc. are managing the process, the publication said, and the SPAC will be used to buy a company SoftBank hasn't previously invested in.

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