What happened Shares of Social Capital Hedosophia Holdings III (NYSE: IPOC) were rising on Thursday. As of 12:30 p.m. EST, the SPAC led by notable venture capital investor Chamath Palihapitiya had risen by more than 9% after soaring by over 10% earlier in the day. So what Social Capital Hedosophia Holdings III is a special purpose acquisition company, or SPAC. It announced in late 2020 that it had agreed to acquire and take public Clover Health, an innovative and technology-focused Medicare Advantage insurance provider. Image source: Getty Images. On Thursday, both companies announced that their business combination had been approved by shareholders of the so-called "blank check" company, and the deal had been closed. The deal initially valued Clover Health at $3.7 billion, but the actual market capitalization of the company is going to be significantly higher since shares are trading at a premium of approximately 60% to the SPAC's net asset value. Now what The combined company will be renamed Clover Health Investments, and will begin trading under its new symbol, CLOV, on the Nasdaq beginning on Friday, Jan. 8. The SPAC's warrants will trade under the new ticker symbol CLOVW. Now that this business combination has been finalized, there are only three more of Palihapitiya's SPACs left. Social Capital Hedosophia Holdings IV (NYSE: IPOD) and Social Capital Hedosophia Holdings VI (NYSE: IPOF) raised $400 million and $1 billion, respectively, in 2020 IPOs and are still looking for acquisition targets. Social Capital Hedosophia Holdings V (NYSE: IPOE) raised $700 million and recently announced an agreement to take fintech lender SoFi public. 10 stocks we like better than Social Capital Hedosophia Holdings IIIWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Social Capital Hedosophia Holdings III wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Matthew Frankel, CFP owns shares of Social Capital Hedosophia Holdings. IV, Social Capital Hedosophia Holdings. V, and Social Capital Hedosophia Holdings. VI. The Motley Fool owns shares of Social Capital Hedosophia Holdings III, Social Capital Hedosophia Holdings. IV, Social Capital Hedosophia Holdings. V, and Social Capital Hedosophia Holdings. VI. The Motley Fool has a disclosure policy.Source