LOS ANGELES–(BUSINESS WIRE)–Gores Metropoulos, Inc. (the “Company”), a blank check company formed
for the purpose of entering into a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses, today announced the closing of
its initial public offering of 40,000,000 units, which includes
2,500,000 units issued pursuant to the partial exercise by the
underwriter of its over-allotment option. The Company is a partnership
sponsored by an affiliate of The Gores Group, LLC, a global investment
firm founded in 1987 by Alec Gores, and by an affiliate of Dean
Metropoulos, a veteran investor in the food and consumer space. The
offering was priced at $10.00 per unit, resulting in gross proceeds of
$400,000,000, before deducting underwriting discounts and commissions
and other offering expenses payable by the Company.
The Company’s units began trading on the NASDAQ Capital Market under the
ticker symbol “GMHIU” on February 1, 2019. Each unit consists of one
share of the Company’s Class A common stock and one-third of one
warrant. Each whole warrant entitles the holder thereof to purchase one
share of the Company’s Class A common stock at a price of $11.50 per
share. Once the securities comprising the units begin separate trading,
the Class A common stock and warrants are expected to be listed on the
NASDAQ Capital Market under the ticker symbols “GMHI” and “GMHIW,”
respectively.
Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and
Goldman Sachs & Co. LLC are serving as the representatives of the
underwriters for the offering. The offering was made only by means of a
prospectus, copies of which may be obtained from Deutsche Bank
Securities Inc., Attn: Prospectus Department, 60 Wall Street, New York,
New York 10005, telephone: 800-503-4611 or email: prospectus.cpdg@db.com;
Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven
Madison Avenue, New York, New York 10010, telephone 800-221-1037 or
email: ecm.prospectus@credit-suisse.com;
or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West
Street, New York, New York 10282, telephone: 866-471-2526 or email: prospectus-ny@ny.email.gs.com.
A registration statement relating to the securities became effective on
January 28, 2019, in accordance with Section 8(a) of the Securities Act
of 1933, as amended. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale
of these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
This press release contains statements that constitute “forward-looking
statements,” including with respect to the proposed initial public
offering and the anticipated use of the net proceeds. No assurance can
be given that the offering discussed above will be completed on the
terms described, or at all, or that the net proceeds of the offering
will be used as indicated. Forward-looking statements are subject to
numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of the
Company’s registration statement and preliminary prospectus for the
Company’s offering filed with the Securities and Exchange Commission
(“SEC”). Copies are available on the SEC’s website, www.sec.gov.
The Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as required
by law.
Contacts
Jennifer Kwon Chou
Managing Director, The Gores Group
(310)
209-3010
jchou@gores.com
