Data company Matterport and Gores Holdings VI today announced that they have entered into a definitive agreement providing for a business combination.
Pending shareholder approvals, following the business combination additional investors will purchase shares of common stock of Gores Holdings VI in a $295 million PIPE. Matterport would also receive the balance of the approximately $345 million in cash held in Gores Holdings VI’s trust account. The PIPE investment is led by institutional investors including Tiger Global Management, Senator Investment Group, Dragoneer Investment Group, Fidelity Management & Research Company, as well as funds managed by BlackRock, Miller Value Partners, Darlington Partners, Untitled Investments, and Lux Capital.
The combined company is expected to have a post-transaction enterprise value of approximately $2.3 billion and equity value of $2.9 billion and intends to remain listed on the Nasdaq under MTTR following an anticipated transaction close in the second quarter. Read more.
