Gores Holdings III, a blank check company formed by The Gores Group, raised $375 million by offering 37.5 million units at $10. Each unit consists of one share of common stock and one-third of one warrant exercisable at $11.50. Gores Holdings III plans to list on the Nasdaq under the symbol GRSHU. Deutsche Bank acted as a lead manager on the deal.
Previous SPAC Gores Holdings II, which raised $375 million in a January 2017 IPO, recently announced its acquisition of Verra Mobility, a provider of tolling services for commercial fleets and an operator of red-light and speed cameras. Gores Holdings I, which raised $350 million in August 2015, acquired Hostess Brands in 2016.
