Gores Holdings X registered with the SEC to raise $725 million through an offering of 72.5 million units, each priced at $10 and consisting of one share and one-fifth of a warrant. The SPAC is led by Chairman Alec Gores, who also at the same time registered Gores Holdings IX to raise $525 million.
Gores X initial stockholders own 20,843,750 shares of Class F common stock, of which 2.72 million are subject to forfeiture depending on the underwriters’ exercise of their over-allotment option.
The latest Gores Holdings SPAC plans to leverage management’s experience in industrials, technology, telecommunications, media and entertainment, business services, healthcare and consumer products for a potential acquisition.
Deutsche Bank, Citigroup and Goldman Sachs are co-managing the offering.
The SPAC will apply for a Nasdaq listing under the symbol GTENU. Read more.
