Gores Holdings X, a blank check company formed by The Gores Group, filed on Friday with the SEC to raise up to $260 million in an initial public offering.
The Boulder, CO-based company plans to raise $260 million by offering 26 million units at $10. Each unit consists of one share of common stock and one-fourth of a warrant, exercisable at $11.50.
The company is led by Chairman Alec Gores, the founder and CEO of The Gores Group, and CEO Mark Stone, a Senior Managing Director of The Gores Group. The SPAC plans to target a wide array of industries, including industrials, technology, telecom, media and entertainment, business services, healthcare, and consumer products.
The Gores Group has been behind multiple previous SPACs, as sole or joint sponsor. Some of the most recent de-SPACs include Polestar (Nasdaq: PSNY; -90% from $10 offer price) in June 2022, and Sonder (Nasdaq: SOND; -99%) in January 2022. Several of The Gores Group's SPACs have liquidated.
Gores Holdings X was founded in 2023 and plans to list on the Nasdaq under the symbol GTENU. Santander is the sole bookrunner on the deal.
