Gores Holdings III, a blank check company formed by The Gores Group, filed for its IPO on Friday.
The Beverly Hills, CA-based company plans to raise $375 million by offering 37.5 million units at a price of $10. At the midpoint of the proposed range, Gores Holdings III would command a market value of $469 million. Each unit consists of one share of common stock and one-third of one warrant exercisable at $11.50.
Gores Holdings III was formed in 2017 and plans to list on the Nasdaq under the symbol GRSHU. Deutsche Bank is the sole bookrunner on the deal. IPO timing has not been disclosed.
