Gores IV Files Investor Presentation on UWM

Liberty Media cited the challenges of finding a target with a fair valuation, volatile market conditions and potential US tax liabilities on stock redemptions next year as reasons for liquidating before the new year.

The SPAC intends to focus on businesses that operate within the Technology, Media and Telecommunications (“TMT”) sectors, including the wireless communications industry.

The SPAC has a merger agreement with Profusa. Based in Emeryville, CA, the target is a digital health company.

Redemptions ahead of the shareholder meeting pulled the SPAC's cash in trust below the minimum required to close the deal, although Wallbox had agreed to waive the requirement. With the new PIPE the SPAC now exeeds the $250 million minimum cash condition.