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Two blank-check firms backed by SoftBank Group Corp are aiming to raise a total of about $550-million in their initial public offerings, regulatory filings showed on Friday.

Special purpose acquisition company (SPAC) SVF Investment Corp 2 said it would sell 20 million units, comprising shares and warrants, priced at $10 apiece in its IPO. SVF Investment Corp 3 said it would sell 35-million shares at the same price.

SoftBank has tried to ride the mania for SPACs, with a blank-check backed by the Japanese conglomerate’s Vision Fund’s managers – SVF Investment Corp – raising $604 million earlier this year.

Another SPAC headed by the company’s Chief Operating Officer Marcelo Claure is aiming to raise $200 million.

Even office-sharing startup WeWork is in talks to go public through a merger with a blank-check firm, a source said last month.

A SPAC, a shell company that raises money in an IPO before later merging with a privately held company to take the latter public, has become many investors’ structure of choice over the past year.

SPACs raised $24.26 billion in January, 20 times more than the same period in 2020, Refinitiv data showed. Last month’s haul was already 30% of the total $79 billion raised by SPACs in the whole of 2020.

The two SPACs launched on Friday are backed by SoftBank Investment Advisers, which oversees the company’s Vision Fund, and will list on the Nasdaq.

Citigroup, UBS Investment Bank, Deutsche Bank Securities, Cantor and Mizuho Securities are underwriters for both the offerings.

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