Gores Holdings IX, a blank check company formed by The Gores Group, filed on Monday with the SEC to raise up to $525 million in an initial public offering.
The Boulder, CO-based company plans to raise $525 million by offering 52.5 million units at $10. Each unit consists of one share of common stock and one-fifth of a warrant, exercisable at $11.50. At the midpoint of the proposed range, Gores Holdings IX would command a market value of $656 million.
The company is led by Chairman Alec Gores, the founder and CEO of The Gores Group, 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 has been behind several other SPACs, including Gores Holdings X (GTENU), which filed concurrently with Gores Holdings IX; Gores Technology Partners (GTPAU) and Gores Technology Partners II (GTPBU), which went public this past March; Gores Holdings VII (GSEVU), which went public this past February; Gores Holdings VI, which combined with software maker Matterport (MTTR; +114% from $10 offer price) this past July; and Gores Holdings V, which combined with Ardagh Metal Packaging (AMBP; -13%) this past August.
Gores Holdings IX was founded in 2021 and plans to list on the Nasdaq under the symbol GHIXU. Deutsche Bank and Goldman Sachs are the joint bookrunners on the deal.
