Gores Holdings VI, the sixth blank check company formed by The Gores Group, raised $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50.
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The company is led by Chairman Alec Gores, founder and CEO of The Gores Group in 1987, and CEO Mark Stone, who currently serves as a Senior Managing Director of The Gores Group. The SPAC plans to leverage its management's experience to target a wide array of industries including industrials, technology, telecom, media and entertainment, business services, healthcare, and consumer products.
The Gores Group's previous SPACs include Gores Holdings V (GRSVU; +5% from $10 offer price), which went public in August 2020; Gores Holdings IV (GHIV; +14%), which went public in January 2020 and is pending a combination with UWM Corp; Gores Holdings III, which acquired government contractor PAE (PAE; -2%) in February 2020; Gores Holdings II, which acquired Verra Mobility (VRRM; +35%) in October 2018; and Gores Holdings, which acquired Hostess Brands (Nasdaq: TWNK; +44%) in November 2016. While Gores Holdings VI is the sixth SPAC formed by The Gores Group alone, the group also co-sponsored January 2019 IPO Gores Metropoulos with dealmaker Dean Metropoulos, which completed its combination with driverless car startup Luminar Technologies (LAZR; +242%) earlier this month.
Gores Holdings VI plans to list on the Nasdaq under the symbol GHVIU. Deutsche Bank and Morgan Stanley acted as lead managers on the deal.
